MCLEAN, Va., July 17, 2017 (GLOBE NEWSWIRE) -- Gladstone Commercial Corporation (NASDAQ:GOOD) is pleased to announce that it has executed a 5-year, 10-month lease extension with the anchor tenant at its 115,200 square foot office property located in Allen, Texas. The lease extension will keep the tenant in its current 83,662 square foot space through September 30, 2028.
The tenant, founded in the 1930s, is a leading provider of data, video and voice services to commercial and consumer customers in 29 states. Buzz Cooper, Senior Managing Director of Gladstone Commercial, stated, “We are very pleased with the commitment that the tenant is showing to this location. We found the dealings to be very transparent and agreeable to satisfy all parties involved.” The tenant has occupied the property since June 2011. Gladstone Commercial originally purchased the property in July 2013, and has maintained a 100% occupancy level since acquisition. The lease extension underscores Gladstone Commercial’s commitment to providing steady and growing cash flow to investors, and will keep the tenant as the anchor in the building through September 2028.
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 March 31, 2017, its real estate portfolio consisted of 95 properties located in 24 states, totaling approximately 10.9 million square feet. For additional information please visit www.gladstonecommercial.com.