Gladstone Commercial Corporation to Expand Building at its Springfield, Missouri Property

Sep 12, 2018

Gladstone Commercial Corporation to Expand Building at its Springfield, Missouri Property

MCLEAN, Va., Sept. 12, 2018 (GLOBE NEWSWIRE) -- Gladstone Commercial Corporation (NASDAQ: GOOD) (“Gladstone Commercial”) announced today that it has acquired additional land to expand T-Mobile Central, LLC (further guaranteed by T-Mobile USA, Inc.) at its 78,421 square foot class A office and call center located in Springfield, Missouri.  

The one-story build-to suit class A office building located at 2645 N. Airport Plaza Ave., Springfield MO 65803 serves as one of T-Mobile’s national customer service centers. T-Mobile USA, Inc. the parent company of the tenant takes pride in its mission to provide wireless voice, messaging, and data services in the United States and its territories. The company is highly regarded for its leadership and innovation in the cellular field. Gladstone acquired an adjacent land parcel that will increase the parking ratio to 10.2/1000, which enables T-Mobile to consolidate head count into this property.

"We acquired this property in 2011, which was a build to suit for the tenant in 2006," stated Buzz Cooper, Senior Managing Director of Gladstone Commercial Corporation, "and this expansion confirms their commitment to this location."

"Acquiring additional land demonstrates Gladstone’s commitment to its tenants," remarked Bob Cutlip, President of Gladstone Commercial. Further, Cutlip stated, “This transaction reinforces how our close relationship with a tenant enables us to respond quickly to their needs and further stabilizes same store rental income.”

About Gladstone Commercial Corporation (NASDAQ: GOOD)

Gladstone Commercial is a real estate investment trust focused on acquiring, owning and operating net leased industrial and office properties across the United States. Gladstone Commercial’s real estate portfolio consists of 98 properties located in 24 states, totaling approximately 11.4 million square feet as of June 30, 2018. For additional information please visit www.gladstonecommercial.com

For Broker Submittals:

South/Central: Southeast:
Buzz Cooper Brandon Flickinger
Senior Managing Director Managing Director
(703) 287-5815 (703) 287-5819
Buzz.Cooper@gladstonecompanies.com Brandon.Flickinger@gladstonecompanies.com
   
West: Midwest/Northeast:
Andrew White Matt Tucker
Managing Director Senior Managing Director
(310) 953-4960 (703) 287-5830
Andrew.White@gladstonecompanies.com Matt.Tucker@gladstonecompanies.com
   

Investor or Media Inquiries:

Bob Cutlip  
President – Gladstone Commercial Corporation
(703) 287-5878  
Bob.Cutlip@gladstonecompanies.com  

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, 2017, as filed with the SEC on February 14, 2018 and certain other filings we make with the SEC.  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.

For Investor Relations inquiries related to any of the monthly dividend paying Gladstone funds, please visit www.gladstone.com.

SOURCE: Gladstone Commercial Corporation

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Source: Gladstone Commercial Corporation