Gladstone Commercial Corporation Announces Successful 2015 Leasing Results With Only 5% Lease Rollover Scheduled During Next ...
07 January 2016 - 8:15AM
Gladstone Commercial Corporation (NASDAQ:GOOD) (the “Company” or
“Gladstone Commercial”), a real estate investment trust focused on
acquiring, owning and operating net leased office and industrial
properties, announced today that during 2015 it successfully
concluded 14 of 16 leases set to expire in 2015 and 2016 with
leasing activity exceeding 1.0 million square feet. Gladstone
Commercial’s portfolio occupancy is 97.3%.
“I am proud of our team’s successful leasing
efforts during a year in which we experienced the largest number of
lease expirations in our history,” said Bob Cutlip, President of
Gladstone Commercial. “We believe that our same store rent over the
next four years will be very stable because only 5% of forecasted
rental income is expiring between the years 2016 and 2019. This
period of limited lease expirations will allow us to focus our
capital on buying more buildings in our core markets.”
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 99
properties located in 24 states, totaling approximately 11.0
million square feet. For additional information please visit
www.gladstonecommercial.com.
For Broker Submittals:
South/Southwest: |
West: |
Buzz
Cooper |
Andrew White |
Senior Managing
Director |
Managing Director |
(703) 287-5830 |
(310) 953-4960 |
Buzz.Cooper@gladstonecompanies.com |
Andrew.White@gladstonecompanies.com |
|
|
Midwest/Northeast: |
Tennessee/Kentucky: |
Matt
Tucker |
Brandon
Flickinger |
Managing Director |
Director |
(703) 287-5815 |
(703) 287-5819 |
Matt.Tucker@gladstonecompanies.com |
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 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 Gladstone Commercial's Annual
Report on Form 10-K for the fiscal year ended December 31,
2014, as filed with the SEC on February 18, 2015 and its Form
10-Q for the quarter ended June 30, 2015, as filed with the SEC on
August 3, 2015. Gladstone Commercial cautions readers not to
place undue reliance on any such forward-looking statements which
speak only as of the date made. Gladstone Commercial 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.
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