Gladstone Commercial Corporation Completes 99,797 SF Lease Extension at Office Property in Englewood, CO

MCLEAN, Va., Feb. 10, 2020 (GLOBE NEWSWIRE) -- Gladstone Commercial Corporation (Nasdaq: GOOD) (“Gladstone Commercial”) announced today it completed the extension of an existing lease with a publicly traded broadband satellite services provider at its 349 Inverness Drive South office property in Englewood, CO. The tenant will occupy the entire 99,797 square foot building for an additional 63 months through December 31, 2026.

Gladstone Commercial purchased the property in December 2013 and has maintained 100% occupancy since acquisition. “We are focused on lease renewals to support our same-store cash flow growth; accordingly, we are pleased to announce this lease extension for an additional five years,” stated Brandon Flickinger, Managing Director and head of the Mountain West and Southeast Regions for Gladstone Commercial.

“We look forward to our continued partnership with the tenant as we work to meet the needs of our tenants throughout the portfolio,” added Perry Finney, Senior Asset Manager for 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, 2019, Gladstone Commercial’s real estate portfolio consisted of 109 properties located in 24 states, totaling approximately 13.1 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, 2018, as filed with the SEC on February 13, 2019 and certain other filings we make with the SEC. Gladstone Commercial 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.

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SOURCE: Gladstone Commercial Corporation

Released February 10, 2020