Gladstone Commercial Corporation Announces Property Acquisition in Blaine, MN
MCLEAN, Va., May 23, 2013 /PRNewswire/ -- Gladstone Commercial Corporation (NASDAQ: GOOD) (the "Company") reported today that it purchased a 92,275 square foot building in Blaine, Minnesota for $14.45 million from CSM Corporation. The property is a single story office building leased to PTC Inc., a Needham, MA based company that develops software solutions and delivers related services that help companies design products, manage product information and improve their product development and services processes.
"We are excited about this acquisition, which highlights our focus on high quality assets leased on a long-term basis to strong tenants like PTC Inc.," said Matt Tucker, Director of our investment advisor responsible for the transaction.
Gladstone Commercial Corporation is a real estate investment trust ("REIT") that invests in and owns net leased industrial, commercial and retail real property and selectively makes long-term industrial and commercial mortgage loans. The Company currently owns 83 properties. Including payments through April 2013, the Company has paid 100 consecutive monthly cash distributions on its common stock. Prior to paying distributions on a monthly basis, the Company paid five consecutive quarterly cash distributions. The Company has paid 88 consecutive monthly cash distributions on its Series A preferred stock, 79 consecutive monthly cash distributions on its Series B preferred stock, 15 consecutive monthly cash distributions on its Series C Term Preferred Stock and 39 consecutive monthly cash distributions on its Senior Common Stock. The Company has never skipped, reduced or deferred a monthly distribution since inception, over nine years ago. Additional information can be found at www.gladstonecompanies.com.
For Investor Relations inquiries related to any of the monthly dividend paying Gladstone funds, please visit www.gladstone.com.
SOURCE Gladstone Commercial Corporation