Gladstone Commercial Announces Industrial Acquisition in Indianapolis, IN

About this update from Gladstone Commercial Corporation - Real Estate Investment Trust

[{"type":"text","content":"MCLEAN, VA / ACCESSWIRE / November 6, 2023 / Gladstone Commercial Corporation (NASDAQ:GOOD) (\"Gladstone Commercial\") recently acquired a 67,709 square foot industrial manufacturing facility in Indianapolis, Indiana at a weighted GAAP capitalization rate of 10.1%.The property was acquired in a long-term sale leaseback transaction with a 20-year absolute NNN lease. The property is 100% leased to Systec Corporation with a parent guarantee from Inspire Automation, an industry leader in corrugated material handling and automation solutions. The acquisition is consistent with Gladstone Commercial's growth strategy of acquiring functional assets leased to credit-worthy tenants in strong industrial markets.\"We are excited to continue expanding our Indianapolis portfolio with a highly functional, well-located industrial asset that is mission critical to another quality tenant,\" stated Ryan Carter, Executive Vice President of Gladstone Commercial.\"This transaction provides yet another case study for our industrial sale leaseback platform. The lease improves our portfolio's weighted average lease term, increases our industrial concentration, and provides a long-term presence in the growing Indianapolis MSA,\" 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, 2023, Gladstone Commercial's real estate portfolio consisted of 135 properties located in 27 states, totaling approximately 17.2 million square feet. For additional information, please visit www.gladstonecommercial.com.For Broker Submittals:Southeast/NortheastSouth Central:EJ WislarTodd Alan McDonaldChief Investment OfficerSenior Vice President(703) 462-1027(703) [email protected]@gladstonecompanies.com Midwest/West Ryan Carter Executive Vice President (571) 451-0019 [email protected] Investor or Media Inquiries:Buzz Cooper President(703) 287-5815 [email protected] 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 S...

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