Gladstone Commercial Corporation Completes $8.5 Million Lease Expansion and Extension in Indianapolis, IN
July 17 2019 - 4:05PM
Gladstone Commercial Corporation (NASDAQ: GOOD) (“Gladstone
Commercial”) announced today that it completed the expansion, early
renewal and extension of its anchor lease with Community Health
Network, Inc.'s for-profit subsidiary, Visionary Enterprises
Inc. (“CHN”) at Heritage Park II, Gladstone’s office property in
Indianapolis, Indiana. As of November 1, CHN will lease
approximately 90% of the 100% occupied office building through
April 2031. CHN is Central Indiana's leader in
providing convenient access to exceptional healthcare services,
where and when patients need them—in hospitals, health pavilions
and doctor's offices, as well as workplaces, schools and homes.
“Since our acquisition of Heritage Park II in 2015, CHN has
expanded three times, and will now occupy more than 76,000 square
feet of the five-story, 86,495 square foot, multi-tenant office
building,” said Matt Tucker, Senior Managing Director and
Northeast/Midwest Regional Head for Gladstone Commercial.
“This expansion and extension validates our anchored
multi-tenant business plan for this high quality office asset.”
“We are pleased that CHN chose again to renew and expand their
footprint at our property,” said Karen Priesman, Senior Asset
Manager for Gladstone Commercial. “This expansion and extension
increase both our cash and straight-line rent as well as
contributing to greater weighted average lease term at the property
and in our portfolio overall.”
About Gladstone Commercial (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. As of March 31, 2019, its real
estate portfolio consisted of 102 properties located in 24 states,
totaling approximately 11.7 million square feet. For additional
information, please visit www.gladstonecommercial.com.
For Broker Submittals:
Southcentral: |
Northeast/Midwest: |
Buzz Cooper |
Matt Tucker |
Senior Managing Director |
Senior Managing Director |
(703) 287-5815 |
(703) 287-5830 |
Buzz.Cooper@gladstonecompanies.com |
Matt.Tucker@gladstonecompanies.com |
|
|
Southeast/Southwest: |
|
Brandon Flickinger |
|
Managing Director |
|
(703) 287-5819 |
|
Brandon.Flickinger@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 Gladstone Commercial’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, 2018, as filed
with the SEC on February 13, 2019 and certain other filings we make
with the SEC. Gladstone Commercial 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.gladstonecompanies.com.
SOURCE: Gladstone Commercial Corporation
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