Gladstone Commercial Corporation Announces Property Acquisition in Novi, MI
MCLEAN, Va., Jan. 6, 2014 /PRNewswire/ -- Gladstone Commercial Corporation (NASDAQ: GOOD) (the "Company") reported that it purchased a 156,200 square foot industrial building located in Novi, Michigan for $7.3 million on December 27, 2013. The property is fully leased to Eberspaecher North America, Inc. ("Eberspaecher") through April 2024. Eberspaecher is a manufacturer of exhaust systems for automotive and commercial vehicles.
"We are excited to acquire this high quality industrial property with a strong tenant like Eberspaecher," said Matt Tucker, Managing Director of the Company. "This investment caps off a strong 2013 and gives us great momentum heading into the new year."
Gladstone Commercial's real estate portfolio now consists of 87 properties located in 22 states, totaling approximately 9.3 million square feet.
For more information regarding Gladstone Commercial's activity in the Northeast and Midwest U.S., please contact Matt Tucker at Matt.Tucker@gladstonecompanies.com.
Gladstone Commercial Corporation is a real estate investment trust (REIT) that invests in and owns net leased industrial, commercial and retail real property. 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.
Forward Looking Statement:
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 the Company'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 the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2012, as filed with the SEC on February 19, 2013 and the Company's Quarterly Report on Form 10-Q for quarter ended September 30, 2013, as filed with the SEC on November 4, 2013. The Company cautions readers not to place undue reliance on any such forward-looking statements which speak only as of the date made. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
SOURCE Gladstone Commercial Corporation