Gladstone Commercial Announces Industrial Acquisition in St. Clair, Missouri

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

[{"type":"text","content":"MCLEAN, VA / ACCESSWIRE / November 18, 2024 / Gladstone Commercial Corporation (Nasdaq:GOOD) (\"Gladstone Commercial\") has acquired a 124,500 square foot industrial manufacturing, distribution, and warehouse facility in St. Clair, Missouri.Gladstone Commercial acquired the property subject to a 20-year absolute NNN lease to ATRO, LLC, a leader in manufacturing durable and high-performance heavy-duty polyurethane truck parts that extend the lifespan of truck components and reduce the total cost of ownership for fleet operators.\"We are excited to expand our industrial portfolio with a mission-critical, high-quality asset leased to a strong, creditworthy tenant. This well-located facility adds significant value to our portfolio and supports our strategy of acquiring assets with long-term growth potential,\" stated Ryan Carter, Executive Vice President of Gladstone Commercial.\"This acquisition continues our strategy to expand our industrial portfolio with high-quality assets in target industrial markets. By adding a facility with a long-term lease to a strong, creditworthy tenant in a region known for its strong industrial demand, we're enhancing our position in a key market while diversifying our holdings. This accretive acquisition improves our portfolio's weighted average lease term, increases our industrial concentration, and reinforces our strategy of partnering with creditworthy tenants in sectors with robust long-term potential,\" 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, 2024, Gladstone Commercial's real estate portfolio consisted of 135 properties located in 27 states, totaling approximately 16.8 million square feet. For additional information, please visit www.gladstonecommercial.com.For Broker Submittals:Midwest/WestSouth CentralRyan CarterTodd Alan McDonaldExecutive Vice PresidentSenior Vice President(571) 451-0019(703) [email protected]@gladstone.com Southeast/Northeast Nick Lindsay Vice President (703) 966-3864 [email protected] Investor or Media Inquiries:Buzz CooperCatherine GerkisPresidentDirector of Investor Relations/ESG(703) 287-5815(703)...

More updates from Gladstone Commercial Corporation - Real Estate Investment Trust