Gladstone Commercial Announces Industrial Acquisition in Midland, TX
Gladstone Commercial (NASDAQ:GOOD) has acquired a 50,102 square foot Class A industrial facility in Midland, Texas, at a 9.94% weighted GAAP capitalization rate. The property was acquired in a long-term sale-leaseback transaction with a 15-year absolute NNN lease. It's fully leased to a leading provider of electrical feedthrough connectors and wellhead solutions, primarily serving E&P operators in the Permian Basin. This acquisition aligns with Gladstone's growth strategy of acquiring functional assets leased to credit-worthy tenants in strong industrial markets. The facility is mission-critical to the tenant's operations, serving as a hub for design, manufacture, installation, and service of its products.
Gladstone Commercial (NASDAQ:GOOD) ha acquistato una struttura industriale di Classe A di 50.102 piedi quadrati a Midland, Texas, con un tasso di capitalizzazione GAAP ponderato del 9,94%. La proprietà è stata acquisita in una transazione di vendita-leaseback a lungo termine con un contratto di locazione NNN assoluto di 15 anni. È completamente affittata a un importante fornitore di connettori elettrici e soluzioni per teste di pozzo, che serve principalmente gli operatori di esplorazione e produzione nel Bacino Permiano. Questa acquisizione è in linea con la strategia di crescita di Gladstone, che mira ad acquisire beni funzionali affittati a inquilini di buona solvibilità in mercati industriali solidi. La struttura è mission-critical per le operazioni dell'inquilino, fungendo da hub per progettazione, produzione, installazione e servizio dei suoi prodotti.
Gladstone Commercial (NASDAQ:GOOD) ha adquirido una instalación industrial de Clase A de 50,102 pies cuadrados en Midland, Texas, con una tasa de capitalización GAAP ponderada del 9.94%. La propiedad fue adquirida en una transacción de venta y arrendamiento a largo plazo con un contrato de arrendamiento NNN absoluto de 15 años. Está completamente alquilada a un proveedor líder de conectores eléctricos y soluciones para cabezales de pozo, que atiende principalmente a operadores de exploración y producción en la Cuenca Pérmica. Esta adquisición se alinea con la estrategia de crecimiento de Gladstone de adquirir activos funcionales arrendados a inquilinos de buena solvencia en mercados industriales fuertes. La instalación es crítica para la misión de las operaciones del inquilino, funcionando como un centro para el diseño, fabricación, instalación y servicio de sus productos.
Gladstone Commercial (NASDAQ:GOOD)는 텍사스 미들랜드에 50,102 평방 피트의 A급 산업 시설을 인수했습니다, 9.94%의 가중 GAAP 자본화율로. 이 부동산은 15년 절대 NNN 임대 계약을 포함한 장기 매각-임대백 거래에서 인수되었습니다. 이 시설은 주요 전기 피드를 공급하는 공급업체 및 웰헤드 솔루션업체에 완전히 임대되어 있으며, 주로 퍼미안 분지의 탐사 및 생산 운영자에게 서비스를 제공합니다. 이 인수는 신뢰할 수 있는 세입자에게 임대된 기능적 자산을 인수하는 Gladstone의 성장 전략과 일치합니다. 이 시설은 세입자의 운영에 미션 크리티컬하며, 제품의 설계, 제조, 설치 및 서비스의 허브 역할을 합니다.
Gladstone Commercial (NASDAQ:GOOD) a acquis un bâtiment industriel de classe A de 50 102 pieds carrés à Midland, Texas, avec un taux de capitalisation GAAP pondéré de 9,94%. La propriété a été acquise dans le cadre d'une transaction de vente-leaseback à long terme avec un bail NNN absolu de 15 ans. Elle est entièrement louée à un fournisseur leader de connecteurs électriques et de solutions pour têtes de puits, servant principalement des opérateurs d'exploration et de production dans le Bassin permien. Cette acquisition s'inscrit dans la stratégie de croissance de Gladstone, qui consiste à acquérir des actifs fonctionnels loués à des locataires de bonne réputation sur des marchés industriels solides. L'installation est vitale pour la mission des opérations du locataire, agissant comme un hub pour la conception, la fabrication, l'installation et le service de ses produits.
Gladstone Commercial (NASDAQ:GOOD) hat eine 50.102 Quadratfuß große Industrieanlage der Klasse A in Midland, Texas, zu einem gewogenen GAAP-Kapitalisierungszinssatz von 9,94% erworben. Die Immobilie wurde in einer langfristigen Verkaufs- und Mietback-Transaktion mit einem absoluten NNN-Mietvertrag über 15 Jahre erworben. Sie ist vollständig an einen führenden Anbieter von elektrischen Durchführungsverbindungen und Kopfstationen vermietet, der in erster Linie Betreiber im Permian Basin bedient. Diese Akquisition steht im Einklang mit Gladstones Wachstumsstrategie, funktionale Vermögenswerte zu erwerben, die an kreditwürdige Mieter in starken Industriemärkten vermietet sind. Die Einrichtung ist mission-critical für die Operationen des Mieters und fungiert als zentrale Anlaufstelle für Design, Herstellung, Installation und Service seiner Produkte.
- Acquisition of a 50,102 sq ft Class A industrial facility at 9.94% weighted GAAP cap rate
- 15-year absolute NNN lease with 100% occupancy
- Property is mission-critical to tenant's operations
- Strengthens industrial footprint in a growth market
- Enhances weighted average lease term
- Diversifies portfolio with newly constructed facility
- None.
Insights
The acquisition of this 50,102 square foot industrial facility in Midland, TX, represents a strategic move for Gladstone Commercial. With a
This acquisition showcases Gladstone Commercial's savvy in the industrial real estate sector. The Class A facility in Midland, TX, is strategically positioned in the heart of the Permian Basin, a important area for oil and gas operations. The sale-leaseback structure with a 15-year NNN lease is particularly advantageous, offering predictable long-term income and transferring property management responsibilities to the tenant. The property's mission-critical nature for the tenant's operations enhances the likelihood of lease renewal. However, the concentration in the energy sector could pose risks if there's a prolonged downturn in oil prices. The newly constructed facility adds value to Gladstone's portfolio, potentially reducing future capital expenditure needs. Overall, this acquisition strengthens Gladstone's industrial footprint in a key growth market.
Gladstone Commercial's acquisition in Midland, TX, taps into the robust demand for industrial space in the Permian Basin. The region's oil and gas industry drives significant need for specialized facilities like this one. The tenant's focus on electrical feedthrough connectors and wellhead solutions positions them well in a niche but essential market. However, investors should note the potential volatility of the energy sector. The 15-year lease term provides a buffer against short-term market fluctuations, but long-term energy trends could impact property value and tenant stability. The sale-leaseback structure indicates the tenant's confidence in their long-term prospects. This acquisition diversifies Gladstone's portfolio geographically and sectorally, potentially reducing overall risk. The
MCLEAN, VA / ACCESSWIRE / September 3, 2024 / Gladstone Commercial Corporation (NASDAQ:GOOD) ("Gladstone Commercial") has acquired a 50,102 square foot Class A industrial manufacturing, distribution, and service facility in Midland, Texas, at a weighted GAAP capitalization rate of
The property was acquired in a long-term sale-leaseback transaction with a 15-year absolute NNN lease. The property is
The property was marketed by Jerry Hopkins of NEWMARK's Dallas office.
"We are excited to partner with another quality tenant in a long-term sale-leaseback transaction. The facility is mission-critical to the tenant's operations, serving as a hub for the design, manufacture, installation, and service of its products," stated Todd McDonald, Head of the South-Central Region for Gladstone Commercial.
"This acquisition aligns well with our strategy of acquiring mission-critical industrial assets in growth markets. Adding a newly constructed facility in a region with a solid, long-term, industrial user-base allows us to diversify our portfolio while strengthening our industrial footprint. This investment not only enhances our weighted average lease term but also reinforces our commitment to the industrial sale-leaseback platform, showcasing our ability to partner with credit-worthy tenants in sectors poised for long-term growth," said Buzz Cooper, President of Gladstone Commercial.
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 June 30, 2024, Gladstone Commercial's real estate portfolio consisted of 136 properties located in 27 states, totaling approximately 16.8 million square feet. For additional information, please visit www.gladstonecommercial.com.
For Broker Submittals:
South Central | Midwest/West |
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Todd Alan McDonald | Ryan Carter |
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Senior Vice President | Executive Vice President |
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(703) 287-5895 | (571) 451-0019 |
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Southeast/Northeast |
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Nick Lindsay |
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Vice President |
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(703) 966-3864 |
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Investor or Media Inquiries:
Buzz Cooper | Catherine Gerkis |
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President | Director of Investor Relations/ESG |
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(703) 287-5815 | (703) 287-5846 |
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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 (the "Securities Act"), and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). Forward-looking statements involve inherent risks and uncertainties as they relate to expectations, beliefs, projections, future plans and strategies, anticipated events, or trends concerning matters that are not historical facts and may ultimately prove to be incorrect or false. Forward-looking statements include information about possible or assumed future events, including, without limitation, those relating to the discussion and analysis of Gladstone Commercial's business, financial condition, results of operations, and our strategic plans and objectives. Words such as "may," "might," "believe," "will," "anticipate," "future," "could," "growth," "plan," "intend," "expect," "should," "would," "if," "seek," "possible," "potential," "likely" and variations of these words and similar expressions are intended to identify forward-looking statements, though not all forward-looking statements contain these words. Forward-looking statements are not guarantees of future performance and are subject to known and unknown risks, uncertainties, and other factors that could cause actual results to differ materially from those included within or contemplated by such statements, including, but not limited to, the description of risks and uncertainties in "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" of the company's Annual Report on Form 10-K for the fiscal year ended December 31, 2023, as filed with the SEC on February 21, 2024, and certain other filings made 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, except as required by law.
For further information: Gladstone Commercial Corporation, (703) 287-5893
For Investor Relations inquiries related to any of the monthly dividend paying Gladstone funds, please visit www.gladstonecompanies.com.
SOURCE: Gladstone Commercial Corporation
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FAQ
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