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Gladstone Commercial (NASDAQ:GOOD) has acquired a 142,125 square foot industrial facility in Warfordsburg, PA for $11.7 million. The property is 100% leased in a long-term sale-leaseback deal with a credit-worthy tenant. The acquisition aligns with Gladstone Commercial's strategy of acquiring industrial assets in strong markets.
Gladstone Commercial reported financial results for the first quarter ended March 31, 2024. The company's Core FFO decreased by 4.5% to $13.9 million, and net income dropped to $0.3 million. Gladstone Commercial successfully collected 100% of cash rents and sold non-core properties. The company's President, Buzz Cooper, highlighted stable revenues, successful capital recycling programs, and positive tenant credit underwriting.
Gladstone Commercial (Nasdaq: GOOD) announces its First Quarter Ended March 31, 2024 Earnings Call & Webcast on May 7, 2024. The company is a real estate investment trust focusing on net leased industrial and office properties in the US.