Gladstone Commercial Corporation Executes 5-Year, 4-Month Lease at Office Property in Fort Lauderdale, FL
Gladstone Commercial Corporation (Nasdaq: GOOD) announced a new lease agreement with Moss & Associates LLC for 47,566 square feet at its Fort Lauderdale office building. The lease spans 5 years and 4 months, starting November 1, 2025. This deal follows a sub-lease arrangement that ends on October 31, 2025, showcasing Moss's long-term commitment. Gladstone's Chief Investment Officer expressed excitement about this addition to their tenant portfolio, emphasizing the significance of capital improvements made to the property.
- Executed a new lease for 47,566 SF, indicating strong demand for the property.
- Long-term commitment from Moss & Associates suggests stability for future revenue.
- Improvements to the building have enhanced its appeal, validating capital investments.
- None.
MCLEAN, VA / ACCESSWIRE / August 22, 2022 / Gladstone Commercial Corporation (Nasdaq:GOOD) ("Gladstone Commercial") announced today that it has executed a 5-year, 4-month lease with Moss & Associates LLC ("Moss") for 47,566 SF at its 119,224 SF office building in Fort Lauderdale, Florida, commencing on November 1, 2025. Moss is currently sub-leasing the same amount of space through October 31, 2025 from the current full building tenant.
"We are excited to welcome Moss to our portfolio and look forward to having them as a tenant," said EJ Wislar, Chief Investment Officer of Gladstone Commercial.
"This direct deal after the sub-lease term shows their long-term commitment to the space," added Greg Yayac, Senior Vice President of Gladstone Commercial. "It also validates the capital improvements we have made to the building, including upgraded HVAC equipment and a full elevator modernization."
"Our ability to execute this deal is a testament to the high quality of the space," said Buzz Cooper, President of Gladstone Commercial.
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, 2022, Gladstone Commercial's real estate portfolio consisted of 136 properties located in 27 states, totaling approximately 17.0 million square feet. For additional information please visit www.gladstonecommercial.com.
For Broker Submittals: Investor or Media Inquiries:
| EJ Wislar | Buzz Cooper |
| Chief Investment Officer | President |
| (703) 462-1027 | (703) 287-5815 |
| EJ.Wislar@gladstonecompanies.com | Buzz.Cooper@gladstonecompanies.com |
For Asset Management Matters:
| Greg Yayac | |
| Senior Vice President / Director | |
| (703) 287-5912 | |
| Gregory.Yayac@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 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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