Gladstone Commercial Corporation Announces Lease Expansion at Indianapolis Property
February 01 2018 - 8:15AM
Gladstone Commercial Corporation (NASDAQ:GOOD) ("Gladstone
Commercial"), a real estate investment trust focused on acquiring,
owning and operating net leased industrial and office properties,
announced today a recent lease expansion at its Indianapolis office
property.
Gladstone Commercial executed a lease amendment
to expand space occupied by Community Health Network, Inc.'s
(“CHN”) for-profit subsidiary, Visionary Enterprises Inc.
at its five-story, 86,495 square foot, multi-tenant office building
located in Indianapolis, Indiana. The lease expansion
increases CHN’s occupancy to 74% of the space through February
2026 and increases the property’s total occupancy to 90%. Ranked
among the nation's most integrated healthcare
systems, 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 inception in 2003 our portfolio’s
occupancy has been 96% or greater which is a testament to our
team’s credit underwriting and asset management capabilities,” said
Bob Cutlip, President of Gladstone Commercial. “With no more leases
expiring in 2018 and less than 4% of forecasted lease expirations
between now and the end of 2019, the portfolio is well positioned
for future growth.”
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. As of
September 30, 2017, the Company owned 97 properties located in 24
states, totaling approximately 11.2 million square feet with
portfolio occupancy of 98%. Additional information can be found at
www.gladstonecommercial.com.
For Broker Submittals:
South/Central: |
Southeast: |
Buzz
Cooper |
Brandon
Flickinger |
Senior Managing
Director |
Managing Director |
(703) 287-5830 |
(703) 287-5819 |
Buzz.Cooper@gladstonecompanies.com |
Brandon.Flickinger@gladstonecompanies.com |
|
|
Midwest/Northeast: |
West: |
Matt
Tucker |
Andrew
White |
Managing Director |
Managing Director |
(703) 287-5815 |
(310) 953-4960 |
Matt.Tucker@gladstonecompanies.com |
Andrew.White@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, 2016, as filed with
the SEC on February 15, 2017 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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