Gladstone Commercial Corporation Brings Building to Full Occupancy

MCLEAN, VA / ACCESSWIRE / May 3, 2022 / Gladstone Commercial Corporation (NASDAQ:GOOD) ("Gladstone Commercial") announced today that it executed a five-year lease with Aveda Services, Inc. ("Aveda") for 29,505 square feet within its industrial building located in Blane, Minnesota. Aveda is a wholly owned subsidiary of Estee-Lauder Inc. The lease brings the 92,187 square foot building to 100% occupancy.

"This lease completes our repositioning of this asset. We are grateful to the KimbleCo leasing team for their efforts in bringing our property to full occupancy with the addition of this quality tenant," said Karen Priesman, Senior Vice President, who leads asset management within the Midwest Region for Gladstone Commercial.

"This lease execution is further evidence of Gladstone's commitment to quality asset management. We are pleased to add Aveda to our roster of high-quality tenants within our portfolio," said Ryan Carter, Executive Vice President for the Midwest and West Regions of Gladstone Commercial.

About Gladstone Commercial (NASDAQ:GOOD)

Gladstone Commercial Corporation is a real estate investment trust focused on acquiring, owning and operating net leased industrial and office properties across the United States. As of December 31, 2021, Gladstone Commercial's real estate portfolio consisted of 129 properties located in 27 states, totaling approximately 16.2 million square feet. For additional information please visit www.gladstonecommercial.com.

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, 2021, as filed with the SEC on February 15, 2022 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.

For further information: Gladstone Commercial Corporation, +1-703-287-5893

For Investor Relations inquiries related to any of the monthly dividend paying Gladstone funds, please visit www.gladstonecompanies.com.

SOURCE: Gladstone Commercial Corporation

Released May 3, 2022