MCLEAN, Va., Jan. 06, 2016 (GLOBE NEWSWIRE) -- Gladstone Commercial Corporation (NASDAQ:GOOD) (the “Company” or “Gladstone Commercial”), a real estate investment trust focused on acquiring, owning and operating net leased office and industrial properties, announced today that during 2015 it successfully concluded 14 of 16 leases set to expire in 2015 and 2016 with leasing activity exceeding 1.0 million square feet. Gladstone Commercial’s portfolio occupancy is 97.3%.
“I am proud of our team’s successful leasing efforts during a year in which we experienced the largest number of lease expirations in our history,” said Bob Cutlip, President of Gladstone Commercial. “We believe that our same store rent over the next four years will be very stable because only 5% of forecasted rental income is expiring between the years 2016 and 2019. This period of limited lease expirations will allow us to focus our capital on buying more buildings in our core markets.”
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. Gladstone Commercial’s real estate portfolio consists of 99 properties located in 24 states, totaling approximately 11.0 million square feet. For additional information please visit www.gladstonecommercial.com.
For Broker Submittals:
| South/Southwest: | West: |
| Buzz Cooper | Andrew White |
| Senior Managing Director | Managing Director |
| (703) 287-5830 | (310) 953-4960 |
| Buzz.Cooper@gladstonecompanies.com | Andrew.White@gladstonecompanies.com |
| Midwest/Northeast: | Tennessee/Kentucky: |
| Matt Tucker | Brandon Flickinger |
| Managing Director | Director |
| (703) 287-5815 | (703) 287-5819 |
| Matt.Tucker@gladstonecompanies.com | Brandon.Flickinger@gladstonecompanies.com |
Investor or Media Inquiries:
| Bob Cutlip | |
| President – Gladstone Commercial Corporation | |
| (703) 287-5878 | |
| Bob.Cutlip@gladstonecompanies.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 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 Gladstone Commercial's Annual Report on Form 10-K for the fiscal year ended December 31, 2014, as filed with the SEC on February 18, 2015 and its Form 10-Q for the quarter ended June 30, 2015, as filed with the SEC on August 3, 2015. Gladstone Commercial cautions readers not to place undue reliance on any such forward-looking statements which speak only as of the date made. Gladstone Commercial undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
For Investor Relations inquiries related to any of the monthly dividend paying Gladstone funds, please visit www.gladstone.com.