Gladstone Commercial Corporation Completes $900,000+ Financing For Energy Saving Improvements at Columbus, OH Property

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[{"type":"text","content":"MCLEAN, Va., Sept. 09, 2019 (GLOBE NEWSWIRE) -- Gladstone Commercial Corporation (NASDAQ: GOOD) (“Gladstone Commercial”) announced today that it has completed an improvement financing via the Property Assessed Clean Energy (“PACE”) program at 7450 Huntington Park Drive, a four-story, 114,786 square foot office property that serves as the headquarters for Quantum Health, Inc. The financing covers 100% of the costs to convert the entire building to LED lighting, install new energy conserving HVAC equipment, and implement a robust energy management system to allow for continued refinement of energy saving strategies over the life of the equipment.\n Preliminary assessments indicate that these improvements will reduce the property’s energy costs by more than 18% and eliminate 429 metric tons of carbon dioxide emissions. “This creative financing program allows Gladstone Commercial to provide significantly improved comfort for its tenant while reducing their occupancy costs and at the same time helping the environment. “We were able to make all of the improvements without putting additional debt on the building, as the repayments for the financing come from supplemental property tax assessments,” said Karen Priesman, Senior Asset Manager for the Midwest region for Gladstone Commercial. “We are pleased to work with our tenants, the community and our engineering consultants to provide improved building operations while reducing costs and increasing the environmental sustainability of our portfolio,” said Gregory Yayac, Asset Manager and lead for energy savings programs for Gladstone Commercial. “This is truly a win for all constituents –shareholders, tenant, landlord, utilities, and the environment.” 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 June 30, 2019, its real estate portfolio consisted of 106 properties located in 24 states, totaling approximately 12.9 million square feet. For additional information, please visit www.gladstonecommercial.com. For Broker Submittals: Southcentral:Northeast/Midwest:Buzz CooperMatt TuckerSenior Managing DirectorSenior Managing Director(703) 287-5815(703) [email protected]@gladstonecompanies.com S...

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