Gladstone Commercial Announces Industrial Acquisition in St. Clair, Missouri
Gladstone Commercial (Nasdaq:GOOD) has acquired a 124,500 square foot industrial manufacturing, distribution, and warehouse facility in St. Clair, Missouri. The property is subject to a 20-year absolute NNN lease to ATRO, , a manufacturer of heavy-duty polyurethane truck parts. The facility is described as mission-critical and high-quality, strategically located in a region with strong industrial demand. This acquisition aligns with Gladstone's strategy to expand its industrial portfolio, increases its industrial concentration, and extends its weighted average lease term.
Gladstone Commercial (Nasdaq:GOOD) ha acquisito un edificio industriale di 124.500 piedi quadrati, adibito a produzione, distribuzione e magazzino a St. Clair, Missouri. La proprietà è soggetta a un contratto di locazione assoluto NNN di 20 anni con ATRO, un produttore di parti per camion in poliuretano ad alta resistenza. La struttura è descritta come critica per la missione e di alta qualità, strategicamente situata in una regione con una forte domanda industriale. Questa acquisizione è in linea con la strategia di Gladstone di espandere il proprio portafoglio industriale, incrementare la propria concentrazione industriale e prolungare la durata media ponderata del contratto di locazione.
Gladstone Commercial (Nasdaq:GOOD) ha adquirido una instalación industrial de fabricación, distribución y almacén de 124,500 pies cuadrados en St. Clair, Missouri. La propiedad está sujeta a un contrato de arrendamiento absoluto NNN de 20 años con ATRO, un fabricante de piezas de camiones de poliuretano de alta resistencia. Se describe la instalación como crítica para la misión y de alta calidad, estratégicamente ubicada en una región con una fuerte demanda industrial. Esta adquisición se alinea con la estrategia de Gladstone para expandir su cartera industrial, aumentar su concentración industrial y extender su plazo medio ponderado de arrendamiento.
글래드스톤 상업(Nasdaq:GOOD)은 미주리주 세인트 클레어에 있는 124,500 평방 피트 산업 제조, 유통 및 창고 시설을 인수했습니다. 이 재산은 중형 폴리우레탄 트럭 부품 제조업체인 ATRO와의 20년 절대 NNN 임대 계약의 대상이 됩니다. 이 시설은 미션 크리티컬하며 고품질로 설명되며, 강력한 산업 수요가 있는 지역에 전략적으로 위치하고 있습니다. 이 인수는 글래드스톤의 산업 포트폴리오를 확장하고 산업 집중도를 높이며 가중 평균 임대 기간을 연장하는 전략과 일치합니다.
Gladstone Commercial (Nasdaq:GOOD) a acquis un bâtiment industriel de 124 500 pieds carrés, destiné à la fabrication, à la distribution et à entreposage à St. Clair, Missouri. La propriété est soumise à un bail absolu NNN de 20 ans avec ATRO, un fabricant de pièces de camions en polyuréthane de haute résistance. L'installation est décrite comme critique pour la mission et de haute qualité, stratégiquement située dans une région avec une forte demande industrielle. Cette acquisition s'inscrit dans la stratégie de Gladstone d'élargir son portefeuille industriel, d'augmenter sa concentration industrielle et d'étendre la durée moyenne pondérée de ses baux.
Gladstone Commercial (Nasdaq:GOOD) hat eine 124.500 Quadratfuß große Industrie-Produktions-, Vertriebs- und Lagerhalle in St. Clair, Missouri, erworben. Das Grundstück unterliegt einem 20-jährigen absoluten NNN-Mietvertrag mit ATRO, einem Hersteller von schweren Polyurethan-Rumpfteilen. Die Anlage wird als entscheidend für die Mission und von hoher Qualität beschrieben und befindet sich strategisch in einer Region mit starker industrieller Nachfrage. Diese Akquisition steht im Einklang mit Gladstones Strategie zur Erweiterung des Industrieportfolios, erhöht die industrielle Konzentration und verlängert die gewichtete durchschnittliche Mietdauer.
- Secured a long-term 20-year absolute NNN lease
- Acquired a large 124,500 sq ft industrial facility
- Property leased to creditworthy tenant in growing industrial sector
- Acquisition improves portfolio's weighted average lease term
- Increases industrial portfolio concentration
- None.
Insights
This strategic acquisition strengthens Gladstone Commercial's industrial portfolio with a 124,500 square foot facility secured by a 20-year absolute NNN lease. The transaction's key strengths include:
- Long-term revenue stability through a two-decade lease commitment
- Zero property management overhead with the NNN lease structure
- Tenant quality in ATRO, , a specialized manufacturer with steady demand from the trucking industry
- Strategic location in Missouri's industrial corridor
MCLEAN, VA / ACCESSWIRE / November 18, 2024 / Gladstone Commercial Corporation (Nasdaq:GOOD) ("Gladstone Commercial") has acquired a 124,500 square foot industrial manufacturing, distribution, and warehouse facility in St. Clair, Missouri.
Gladstone Commercial acquired the property subject to a 20-year absolute NNN lease to ATRO, LLC, a leader in manufacturing durable and high-performance heavy-duty polyurethane truck parts that extend the lifespan of truck components and reduce the total cost of ownership for fleet operators.
"We are excited to expand our industrial portfolio with a mission-critical, high-quality asset leased to a strong, creditworthy tenant. This well-located facility adds significant value to our portfolio and supports our strategy of acquiring assets with long-term growth potential," stated Ryan Carter, Executive Vice President of Gladstone Commercial.
"This acquisition continues our strategy to expand our industrial portfolio with high-quality assets in target industrial markets. By adding a facility with a long-term lease to a strong, creditworthy tenant in a region known for its strong industrial demand, we're enhancing our position in a key market while diversifying our holdings. This accretive acquisition improves our portfolio's weighted average lease term, increases our industrial concentration, and reinforces our strategy of partnering with creditworthy tenants in sectors with robust long-term potential," 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 September 30, 2024, Gladstone Commercial's real estate portfolio consisted of 135 properties located in 27 states, totaling approximately 16.8 million square feet. For additional information, please visit www.gladstonecommercial.com.
For Broker Submittals:
Midwest/West | South Central |
Ryan Carter | Todd Alan McDonald |
Executive Vice President | Senior Vice President |
(571) 451-0019 | (703) 287-5895 |
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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 |
President | Director of Investor Relations/ESG |
(703) 287-5815 | (703) 287-5846 |
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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