Gladstone Commercial Corporation Announces Property Acquisition in Egg Harbor Township, NJ
MCLEAN, Va., April 8, 2013 /PRNewswire/ -- Gladstone Commercial Corporation (NASDAQ: GOOD) (the "Company") reported today that it purchased a 29,257 square foot building in Egg Harbor Township, New Jersey for $5.65 million. The property is a two-story office building that includes administrative and operational office space leased to AtlantiCare Health System, Inc., a not-for-profit health system.
"Acquiring this high quality facility is consistent with our growth strategy," said Matt Tucker, Director of our investment adviser responsible for the transaction. "The buyer and seller teams worked together seamlessly to navigate a complicated subdivision process to execute a successful transaction for all parties."
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 81 properties. Including payments through March 2013, the Company has paid 99 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 87 consecutive monthly cash distributions on its Series A preferred stock, 78 consecutive monthly cash distributions on its Series B preferred stock, 14 consecutive monthly cash distributions on its Series C Term Preferred Stock and 38 consecutive monthly cash distributions on its Senior Common Stock. The Company has never skipped, reduced or deferred a monthly distribution since inception, over eight 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