Gladstone Commercial Announces $9 Million Industrial Property Acquisition in Jackson, TN
17 December 2019 - 8:30AM
Gladstone Commercial Corporation (NASDAQ: GOOD) (“Gladstone
Commercial”) announced today that it completed the acquisition of a
241,000 square foot industrial building in Jackson, Tennessee, on
December 16, 2019.
A build-to-suit for Berry Global, Inc.
(“Berry”), the building was completed in August 2019 and is 100%
leased to Berry. Berry utilizes the warehouse primarily for the
storage and distribution of products manufactured at its adjacent
production facility. The acquisition of the industrial property is
consistent with Gladstone Commercial’s strategy of acquiring
high-quality assets in strong industrial markets with credit-worthy
tenants.
“We are excited to announce this industrial
acquisition – our first in Tennessee – where we will continue to
expand our footprint in markets with growing industrial demand and
access to major interstates and infrastructure,” said Brandon
Flickinger, Managing Director and head of the Southeast and
Mountain West region for Gladstone Commercial.
Bob Cutlip, President of Gladstone Commercial,
agreed, “This acquisition continues our strategy of increasing our
industrial allocation and entering the Tennessee market by
acquiring a quality industrial property that is integral to a
company’s supply chain with access to transportation arteries.”
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
September 30, 2019, Gladstone Commercial’s real estate portfolio
consisted of 109 properties located in 24 states, totaling
approximately 13.1 million square feet. For additional information
please visit www.gladstonecommercial.com.
For Broker Submittals:
South Central: |
Midwest/Northeast: |
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Buzz Cooper |
Matt Tucker |
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Senior Managing Director |
Senior Managing Director |
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(703) 287-5815 |
(703) 287-5830 |
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Buzz.Cooper@gladstonecompanies.com |
Matt.Tucker@gladstonecompanies.com |
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Southeast / Mountain
West: |
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Brandon
Flickinger |
|
|
Managing Director |
|
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(703) 287-5819 |
|
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Brandon.Flickinger@gladstonecompanies.com |
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|
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Investor or Media
Inquiries: |
|
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Bob Cutlip |
|
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President – Gladstone Commercial
Corporation |
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(703) 287-5878 |
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Bob.Cutlip@gladstonecompanies.com |
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Investor or Media
Inquiries:
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.gladstone.com.
SOURCE: Gladstone Commercial Corporation
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