Gladstone Commercial Corporation Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Commitments and Contingencies (Tables)

Commitments and Contingencies (Tables)

3 Months Ended

Mar. 31, 2014

Future Minimum Rental Payments Due under Terms of Leases

We are obligated as lessee under three ground leases. Future minimum rental payments due under the terms of these leases for the remainder of 2014 and each of the five succeeding years and thereafter, are as follows (dollars in thousands):


		For the year ended December 31,
Location	Lease End Date	2014		2015		2016		2017		2018		2019		Thereafter
Tulsa, OK	Apr-21	$	114	$	153	$	153	$	153	$	153	$	153	$	229
Dartmouth, MA	May-36		131		174		174		174		174		174		3,300
Springfield, MA	Feb-30		64		86		86		89		90		90		972

		$	309	$	413	$	413	$	416	$	417	$	417	$	4,501

Tenant Improvements [Member]

Future Tenant Improvement Payments Due on Properties

Future tenant improvement payments due on these properties for the remainder of 2014 and each of the five succeeding years and thereafter, are as follows (dollars in thousands):


		For the year ended December 31,
Location	Lease End Date	2014		2015		2016		2017		2018		2019		Thereafter
Canton, NC	Jul-24⁽¹⁾	$	3,325	$	—	$	—	$	—	$	—	$	—	$	—
Concord Township, OH	Aug-34		150		—		—		—		—		—		—
Austin, TX	Jun-15		125		—		—		—		—		—		—
Hialeah, FL	Mar-27		35		—		—		—		—		—		—

		$	3,635	$	—	$	—	$	—	$	—	$	—	$	—

⁽¹⁾	Upon completion of expansion of this property, currently projected to be September of 2014, the lease will be extended for 20 years, through September 2034.