Gladstone Commercial Corporation Brings Building to Full Occupancy

Rhea-AI Summary

Gladstone Commercial Corporation (NASDAQ:GOOD) announced a five-year lease with Aveda Services, Inc. for 29,505 square feet in Blane, Minnesota, achieving 100% occupancy in its 92,187 square foot industrial property. This lease marks the completion of the asset's repositioning efforts. Gladstone emphasizes their commitment to quality asset management, with Aveda being a significant addition to their tenant portfolio. The company's real estate holdings consist of 129 properties across 27 states, totaling approximately 16.2 million square feet as of December 31, 2021.

Positive

• Achieved 100% occupancy in a 92,187 square foot industrial building.
• Executed a five-year lease with Aveda Services, a subsidiary of Estee-Lauder.
• Completes asset repositioning efforts, enhancing overall portfolio quality.

Negative

• None.

MCLEAN, VA / ACCESSWIRE / May 3, 2022 / Gladstone Commercial Corporation (NASDAQ:GOOD) ("Gladstone Commercial") announced today that it executed a five-year lease with Aveda Services, Inc. ("Aveda") for 29,505 square feet within its industrial building located in Blane, Minnesota. Aveda is a wholly owned subsidiary of Estee-Lauder Inc. The lease brings the 92,187 square foot building to 100% occupancy.

"This lease completes our repositioning of this asset. We are grateful to the KimbleCo leasing team for their efforts in bringing our property to full occupancy with the addition of this quality tenant," said Karen Priesman, Senior Vice President, who leads asset management within the Midwest Region for Gladstone Commercial.

"This lease execution is further evidence of Gladstone's commitment to quality asset management. We are pleased to add Aveda to our roster of high-quality tenants within our portfolio," said Ryan Carter, Executive Vice President for the Midwest and West Regions of Gladstone Commercial.

About Gladstone Commercial (NASDAQ:GOOD)

Gladstone Commercial Corporation is a real estate investment trust focused on acquiring, owning and operating net leased industrial and office properties across the United States. As of December 31, 2021, Gladstone Commercial's real estate portfolio consisted of 129 properties located in 27 states, totaling approximately 16.2 million square feet. For additional information please visit www.gladstonecommercial.com.

For Broker Submittals:
South Central:	Southeast/Northeast:
Buzz Cooper	EJ Wislar
Co-President/Chief Investment Officer	Senior Vice President
(703) 287-5815	(703) 462-1027
Buzz.Cooper@gladstonecompanies.com	EJ.Wislar@gladstonecompanies.com
Midwest/West:
Ryan Carter
Executive Vice President
(571) 451-0019
Ryan.Carter@gladstonecompanies.com

Investor or Media Inquiries:
Bob Cutlip
Co-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 Gladstone Commercial'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. 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.

For further information: Gladstone Commercial Corporation, +1-703-287-5893

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

What recent leasing activity has Gladstone Commercial Corporation announced?

Gladstone Commercial Corporation announced a five-year lease with Aveda Services, Inc. for 29,505 square feet, bringing its industrial building in Blane, Minnesota to full occupancy.

What is the significance of the lease with Aveda Services for Gladstone Commercial Corporation?

The lease with Aveda Services is significant as it completes the repositioning of Gladstone's industrial asset and enhances the quality of its tenant roster.

How many properties does Gladstone Commercial Corporation own?

As of December 31, 2021, Gladstone Commercial Corporation owned 129 properties across 27 states, totaling approximately 16.2 million square feet.

What is the stock symbol for Gladstone Commercial Corporation?

The stock symbol for Gladstone Commercial Corporation is GOOD.

When was the lease with Aveda Services announced?

The lease with Aveda Services was announced on May 3, 2022.