Gladstone Commercial Corporation Executes Five Year Lease Extension at its Syracuse, NY property
April 01 2019 - 4:05PM
Gladstone Commercial Corporation (NASDAQ: GOOD) (“Gladstone
Commercial”) announced today that it has executed a five year lease
extension with Gaylord Bros., Inc., (“Gaylord”) at its 71,880
square foot facility in Syracuse, New York. The lease extension
maintains the property’s 100% occupancy through May 31, 2025.
The one and two-story light manufacturing building was
originally built in 2005, and remains in excellent condition. The
building serves as the headquarters of Gaylord, which is a leading
provider of preservation and exhibit products to institutions and
individuals.
“We acquired this property in 2007,” stated Buzz Cooper,
Senior Managing Director of Gladstone Commercial, “and the
lease extension by Gaylord re-affirms their commitment to this
location.”
“I am pleased with our team’s continued successful leasing
efforts in 2019” remarked Bob Cutlip, President
of Gladstone Commercial. “Extending this lease increases the
weighted average lease term of the Gladstone Commercial portfolio
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. As of December 31, 2018,
Gladstone Commercial’s real estate portfolio consisted of 101
properties located in 24 states, totaling approximately 11.7
million square feet. For additional information please visit
www.gladstonecommercial.com.
For Broker Submittals:
South/Central: |
Southeast/West: |
Buzz
Cooper |
Brandon
Flickinger |
Senior Managing
Director |
Managing Director |
(703) 287-5815 |
(703) 287-5819 |
Buzz.Cooper@gladstonecompanies.com |
Brandon.Flickinger@gladstonecompanies.com |
|
|
Midwest/Northeast: |
|
Matt
Tucker |
|
Senior Managing
Director |
|
(703) 287-5830 |
|
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, 2018, as filed with the SEC
on February 13, 2019 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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