MCLEAN, Va., Oct. 5 /PRNewswire-FirstCall/ -- Gladstone Commercial Corporation (Nasdaq: GOOD) (the "Company") announced today that its board of directors declared the following monthly distributions:

(Logo: https://photos.prnewswire.com/prnh/20101005/GLADSTONECOMMERCIAL )

(Logo: http://www.newscom.com/cgi-bin/prnh/20101005/GLADSTONECOMMERCIAL )

$0.125 per common share for each of the months October, November and December of 2010, payable per Table 1 below.

Table 1: Summary of common stock cash distributions for the quarterending
December 31, 2010:

Declared  X Dividend-Date Record Date Payment Date Amount

October 5 October 19      October 21  October 29   $0.125

October 5 November 17     November 19 November 30  $0.125

October 5 December 21     December 23 December 31  $0.125

Total for the Quarter: $0.375

$0.0875 for the Company's Senior Common Stock for each of the months of October, November and December of 2010, payable per Table 2 below (which monthly amount shall be prorated based on the number of calendar days in each month that a shareholder is a holder of record).

Table 2: Summary of Senior Common Stock cash distributions for the quarter
ending December 31, 2010:

          Payable to Holders of Record During the Month
Declared  of:                                           Payment Date Amount

October 5 October                                       November 5   $0.0875

October 5 November                                      December 7   $0.0875

October 5 December                                      January 7    $0.0875

Total for the Quarter: $0.2625

$0.1614583 for the Company's 7.75% Series A Cumulative Redeemable Preferred Stock for each of the months of October, November and December of 2010. The Series A Preferred Stock trades on the NASDAQ under the symbol "GOODP." Monthly distributions will be payable per Table 3 below.

Table 3: Summary of Series A Preferred Stock cash distributions for the
quarter ending December 31, 2010:

Declared  X Dividend-Date Record Date Payment Date Amount

October 5 October 19      October 21  October 29   $0.1614583

October 5 November 17     November 19 November 30  $0.1614583

October 5 December 21     December 23 December 31  $0.1614583

Total for the Quarter: $0.4843749

$0.15625 for the Company's 7.50% Series B Cumulative Redeemable Preferred Stock for each of the months of October, November and December of 2010. The Series B Preferred Stock trades on the NASDAQ under the symbol "GOODO." Monthly distributions will be payable per Table 4 below.

Table 4: Summary of Series B Preferred Stock cash distributions for the
quarter ending December 31, 2010:

Declared  X Dividend-Date Record Date Payment Date Amount

October 5 October 19      October 21  October 29   $0.15625

October 5 November 17     November 19 November 30  $0.15625

October 5 December 21     December 23 December 31  $0.15625

Total for the Quarter: $0.46875

The Company is a publicly traded real estate investment trust that focuses on investing in and owning triple-net leased industrial and commercial real estate properties and selectively making long-term mortgage loans. The Company's portfolio continues to perform as expected and it does not hold investments in sub-prime or other home mortgages or investments in the housing industry.

The Company offers a dividend reinvestment plan (DRIP) for its common shareholders. For more information regarding this Plan or other information about the Company, please visit www.gladstonecommercial.com . To sign up to receive notifications about Gladstone Commercial and its sister companies, please visit www.gladstone.com.

SOURCE Gladstone Commercial Corporation