Gladstone Commercial Corporation Announces Sale of Parsippany, NJ Office Building

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

[{"type":"text","content":"MCLEAN, VA / ACCESSWIRE / August 29, 2022 / Gladstone Commercial Corporation (Nasdaq:GOOD) (\"Gladstone Commercial\") announced today that it sold its 60,000 SF Parsippany, New Jersey office building on August 25, 2022.Gladstone Commercial realized a leveraged internal rate of return of approximately 15% on the property, which it originally acquired in 2011.\"This sale marks another strong exit, as we look to selectively re-position our portfolio with a greater industrial focus,\" said EJ Wislar, Chief Investment Officer of Gladstone Commercial.\"This was a win-win for all parties,\" added Greg Yayac, Senior Vice President of Gladstone Commercial. \"We are pleased to have found a solution to maximize value.\"\"This sale fits with our capital recycling plan and will allow us to re-deploy capital into industrial product,\" stated 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 WislarBuzz CooperChief Investment OfficerPresident(703) 462-1027(703) [email protected]@gladstonecompanies.com For Asset Management Matters: Greg Yayac Senior Vice President / Director (703) 287-5912 [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 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, li...

More updates from Gladstone Commercial Corporation - Real Estate Investment Trust