Gladstone Commercial Corporation Announces Property Acquisition in Fort Worth, TX
MCLEAN, Va., Nov. 12, 2012 /PRNewswire/ -- Gladstone Commercial Corporation (NASDAQ: GOOD) (the "Company") reported today that it purchased the National Archives and Records Administration's ("NARA") Southwest Region Records Center, a 208,234 square foot building located in Fort Worth, Texas, for $20.0 million. The mission-critical property is comprised of office & research areas, which are open to the public, as well as both paper and electronic records archival storage space.
The property serves as the federal records center for the NARA's Southwest Region and provides storage for records created or received by over 100 federal agencies located in Arkansas, Louisiana, Oklahoma, and Texas, including U.S. district and bankruptcy courts and the Internal Revenue Service. NARA has been part of the Fort Worth community for over 50 years. The long-term lease is fully guaranteed by the U.S. Government.
"We are excited to add an asset and tenancy of this high quality to our portfolio, continuing our growth in 2012," said Chris Massey, the Managing Director 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 79 properties. Including payments through October 2012, the Company has paid 94 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 82 consecutive monthly cash distributions on its Series A preferred stock, 73 consecutive monthly cash distributions on its Series B preferred stock, and 33 consecutive monthly cash distributions on its Senior Common Stock and 9 consecutive monthly cash distributions on its Series C preferred 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