Gladstone Commercial Corporation Signs Lease Renewals with Elster Solutions, LLC (a wholly owned subsidiary of Honeywell International Inc.) at Raleigh, NC locations

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

[{"type":"text","content":"MCLEAN, Va., May 05, 2020 (GLOBE NEWSWIRE) -- Gladstone Commercial Corporation (Nasdaq: GOOD) (“Gladstone Commercial”) announced today that it has executed a lease extension with Elster Solutions, LLC, (“Elster”) at its 58,926 square foot office building in Raleigh, North Carolina. The lease extension maintains the property’s 100% occupancy. Additionally, Gladstone Commercial and Elster executed an extension at an adjacent manufacturing facility where Elster leases 22,198 square feet, approximately 20% of the space, with the remainder of the building fully leased to another tenant through 2027.\n The office building was constructed in 1997 and has been continuously occupied since then by Elster, a leading provider of gas, electricity and water meters. The adjacent manufacturing building was constructed in 1994. Elster was acquired by Honeywell International Inc. in 2015. “We acquired the office building in 2003 and the adjacent manufacturing building in 2007,” stated Buzz Cooper, Senior Managing Director of Gladstone Commercial, “and the lease extensions by Elster re-affirm their commitment to this location.” “It has been a pleasure to work with the tenant and we look forward to our continued relationship” remarked Greg Yayac, Asset Manager for Gladstone Commercial. “We achieved a great outcome in extending the tenant in both locations, allowing us to maintain current occupancy.” 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 March 31, 2020, Gladstone Commercial’s real estate portfolio consisted of 122 properties located in 28 states, totaling approximately 15.1 million square feet. For additional information please visit www.gladstonecommercial.com For Broker Submittals: South/Central:Southeast/West:Buzz Cooper Brandon FlickingerSenior Managing DirectorManaging Director(703) 287-5815(703) [email protected]@gladstonecompanies.com Midwest/Northeast: Matt Tucker Senior Managing Director (703) 287-5830 [email protected] Investor or Media Inquiries: Bob Cutlip President – Gladstone Commercial Corporation(703) 287-5878 [email protected] All statements contained in this press releas...

More updates from Gladstone Commercial Corporation - Real Estate Investment Trust