Gladstone Commercial Corporation Announces Five Year Lease at Austin, TX Office Building

Rhea-AI Summary

Gladstone Commercial Corporation (NASDAQ:GOOD) announced a new lease agreement on September 15, 2021, with a national credit tenant for a duration of five years and three months. This lease covers half of their 320,000 square foot office building located at 717 Parmer Lane in Austin, Texas. As of June 30, 2021, Gladstone's real estate portfolio comprises 121 properties across 27 states, totaling approximately 15.6 million square feet.

Positive

• Secured a five-year lease with a national credit tenant, enhancing revenue stability.
• The property in Austin is a significant asset, indicating a strong market presence.

Negative

• None.

MCLEAN, VA / ACCESSWIRE / September 20, 2021 / Gladstone Commercial Corporation (NASDAQ:GOOD) ("Gladstone Commercial") announced it has entered into a lease for five years and three months effective September 15, 2021, with a national credit tenant for half of its 320,000 square foot, four story office building located at 717 Parmer Lane in Austin, Texas.

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. As of June 30, 2021, Gladstone Commercial's real estate portfolio consisted of 121 properties located in 27 states, totaling approximately 15.6 million square feet. For additional information please visit www.gladstonecommercial.com.

For Broker Submittals:
Buzz Cooper
Chief Investment Officer
(703) 287-5815
Buzz.Cooper@gladstonecompanies.com

For Asset Management Matters:
Perry Finney
Senior Vice President
(703) 462-1027
Perry.Finney@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 the Company'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, 2020, as filed with the SEC on February 16, 2021, and certain other filings we make with the SEC. The Company 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 Investor Relations inquiries related to any of the monthly dividend paying Gladstone funds, please visit www.gladstonecompanies.com.

SOURCE: Gladstone Commercial Corporation

View source version on accesswire.com:
https://www.accesswire.com/664689/Gladstone-Commercial-Corporation-Announces-Five-Year-Lease-at-Austin-TX-Office-Building

FAQ

What is the length of the new lease announced by Gladstone Commercial Corporation?

The new lease is for a duration of five years and three months.

Where is the office building located that has been leased by Gladstone Commercial Corporation?

The office building is located at 717 Parmer Lane in Austin, Texas.

What percentage of the office building does the new lease cover?

The lease covers half of the 320,000 square foot office building.

When did the lease for the Austin office building become effective?

The lease became effective on September 15, 2021.

How large is Gladstone Commercial Corporation's real estate portfolio?

As of June 30, 2021, the portfolio consists of approximately 15.6 million square feet across 121 properties.