Gladstone Commercial Corporation to Expand Building at its Springfield, Missouri Property
September 12 2018 - 8:30AM
Gladstone Commercial Corporation (NASDAQ: GOOD) (“Gladstone
Commercial”) announced today that it has acquired additional land
to expand T-Mobile Central, LLC (further guaranteed by T-Mobile
USA, Inc.) at its 78,421 square foot class A office and call center
located in Springfield, Missouri.
The one-story build-to suit class A office
building located at 2645 N. Airport Plaza Ave., Springfield MO
65803 serves as one of T-Mobile’s national customer service
centers. T-Mobile USA, Inc. the parent company of the tenant takes
pride in its mission to provide wireless voice, messaging, and data
services in the United States and its territories. The company is
highly regarded for its leadership and innovation in the cellular
field. Gladstone acquired an adjacent land parcel that will
increase the parking ratio to 10.2/1000, which enables T-Mobile to
consolidate head count into this property.
"We acquired this property in 2011, which was a build to suit
for the tenant in 2006," stated Buzz Cooper, Senior Managing
Director of Gladstone Commercial Corporation, "and this
expansion confirms their commitment to this location."
"Acquiring additional land demonstrates Gladstone’s commitment
to its tenants," remarked Bob Cutlip, President
of Gladstone Commercial. Further, Cutlip stated, “This
transaction reinforces how our close relationship with a tenant
enables us to respond quickly to their needs and further stabilizes
same store rental income.”
About Gladstone Commercial Corporation (NASDAQ:
GOOD)
Gladstone Commercial is a real estate investment
trust focused on acquiring, owning and operating net leased
industrial and office properties across the United States.
Gladstone Commercial’s real estate portfolio consists of 98
properties located in 24 states, totaling approximately 11.4
million square feet as of June 30, 2018. For additional information
please visit www.gladstonecommercial.com
For Broker Submittals:
South/Central: |
Southeast: |
Buzz
Cooper |
Brandon Flickinger |
Senior Managing
Director |
Managing
Director |
(703) 287-5815 |
(703)
287-5819 |
Buzz.Cooper@gladstonecompanies.com |
Brandon.Flickinger@gladstonecompanies.com |
|
|
West: |
Midwest/Northeast: |
Andrew
White |
Matt Tucker |
Managing Director |
Senior
Managing Director |
(310) 953-4960 |
(703)
287-5830 |
Andrew.White@gladstonecompanies.com |
Matt.Tucker@gladstonecompanies.com |
|
|
Investor or Media Inquiries:
Bob
Cutlip |
|
President –
Gladstone Commercial Corporation |
(703) 287-5878 |
|
Bob.Cutlip@gladstonecompanies.com |
|
All statements contained in this press release,
other than historical facts, may constitute "forward-looking
statements" within the meaning of Section 27A of the Securities Act
of 1933, as amended, and Section 21E of the Securities Exchange Act
of 1934, as amended. Words such as "anticipates," "expects,"
"intends," "plans," "believes," "seeks," "estimates" and variations
of these words and similar expressions are intended to identify
forward-looking statements. Readers should not rely upon
forward-looking statements because the matters they describe are
subject to known and unknown risks and uncertainties that could
cause the Company's business, financial condition, liquidity,
results of operations, funds from operations or prospects to differ
materially from those expressed in or implied by such statements.
Such risks and uncertainties are disclosed under the caption "Risk
Factors" of the Company's Annual Report on Form 10-K for the fiscal
year ended December 31, 2017, as filed with the SEC
on February 14, 2018 and certain other filings we make with
the SEC. The Company cautions readers not to place undue
reliance on any such forward-looking statements which speak only as
of the date made. The Company undertakes no obligation to publicly
update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise.
For Investor Relations inquiries related to any of the monthly
dividend paying Gladstone funds, please visit
www.gladstone.com.
SOURCE: Gladstone Commercial Corporation
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