Gladstone Commercial Corporation Announces Sale of Two-Story Office Building Located in Allen, Texas
Gladstone Commercial Corporation (Nasdaq: GOOD) announced the sale of a two-story office building in Allen, Texas, completed on December 8, 2022. Despite a challenging market, the sale is expected to enable the company to re-deploy capital into the industrial sector, aligning with their recycling initiatives. President Buzz Cooper expressed satisfaction with the transaction's execution and its potential to create shareholder value. As of September 30, 2022, Gladstone's portfolio comprised 137 properties across 27 states, totaling approximately 17.2 million square feet.
- Completed the sale of a property, enhancing capital deployment into the industrial sector.
- Transaction perceived as a value-creating opportunity for shareholders.
- None.
MCLEAN, VA / ACCESSWIRE / December 14, 2022 / Gladstone Commercial Corporation (Nasdaq:GOOD) ("Gladstone Commercial") announced today that it closed on the sale of its two-story office building located in Allen, Texas on December 8, 2022.
"We are quite pleased to have been able to execute this transaction in a challenging environment. This transaction will allow us to continue to re-deploy capital into the industrial sector, consistent with our recycling initiatives," stated Buzz Cooper, President of Gladstone Commercial.
"Avison Young did a tremendous job finding a buyer," added Perry Finney, Senior Vice President of Gladstone Commercial. "We are quite pleased with the outcome and the value we created for our shareholders."
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 September 30, 2022, Gladstone Commercial's real estate portfolio consisted of 137 properties located in 27 states, totaling approximately 17.2 million square feet. For additional information, please visit www.gladstonecommercial.com.
Investor or Media Inquiries: Buzz Cooper | For Broker Submittals: EJ Wislar |
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, 2021, as filed with the SEC on February 15, 2022, 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
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