Gladstone Commercial Corporation Extends Lease at Richmond, VA Property

MCLEAN, Va., July 13, 2020 (GLOBE NEWSWIRE) -- Gladstone Commercial Corporation (Nasdaq: GOOD) (“Gladstone Commercial”) announced today that it has executed a six-year lease extension with Conduent State Healthcare, LLC (“Conduent”) at its 42,213 square foot office building in Richmond, VA, maintaining the building’s 100% occupancy until September 2026.

“We are focused on renewing tenants and growing same-store cash flow as well as continuing our industrial acquisition strategy,” stated Buzz Cooper, Senior Managing Director of Gladstone Commercial, “This lease extension demonstrates the continued importance of our building to Conduent’s operations.” Conduent moved into the building in 2014, where it performs support operations and services for clients.

“We are pleased to be able to continue our relationship with Conduent and to maintain full occupancy at the property,” added Greg Yayac, Asset Manager for 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 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

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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, liquidity, results of operations, funds from operations or prospects to differ materially from those expressed in or implied by such statements. Such risks and uncertainties are disclosed under the caption "Risk Factors" of the company's Annual Report on Form 10-K for the fiscal year ended December 31, 2019, as filed with the SEC on February 12, 2020 and certain other filings we make with the SEC.  The company cautions readers not to place undue reliance on any such forward-looking statements which speak only as of the date made. The company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise except as required by law.

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SOURCE: Gladstone Commercial Corporation

Released July 13, 2020