MCLEAN, Va., April 23, 2014 /PRNewswire/ -- Gladstone Commercial Corporation (NASDAQ: GOOD) (the "Company") reported today that it purchased a 61,358 square foot creative office building located in Rancho Cordova, CA for $8.2 million. The property is fully leased to Barco, Inc. ("Barco") through April 2024. Barco is a global technology company that designs, and develops networked visualization products, including projectors, video walls, displays, image processing and presentation systems and software for a variety of selected professional markets.
"This acquisition marks our first acquisition in California and continues our strategic expansion into both primary and secondary markets in the Western U.S.," said Andrew White, Managing Director of the Company. "The popularity of the open ceiling, polished concrete floor, open floor plan creative office build out with technology and other creative tenants is well known. This asset has all of the above including proximity to retail, housing and major transportation corridors." Gladstone Commercial's real estate portfolio now consists of 90 properties located in 23 states, totaling approximately 9.4 million square feet.
For more information regarding Gladstone Commercial's activity in the West, please contact Andrew White at [email protected].
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.
SOURCE Gladstone Commercial Corporation