Gladstone Commercial Corporation Announces $51.4 Million Office Portfolio Acquisition in Orlando, FL
The portfolio, collectively known as
The portfolio consists of three buildings: Eastwoods, a five-story, 177,117 square foot office building leased 80% to ADP, Westwoods, a three-story, 79,318 square foot office building leased 100% to ADP, and Southwoods, a single-story 50,000 square foot office building leased 100% to two tenants. The portfolio also consists of two parking structures, which bring the total parking ratio of the portfolio to greater than five spaces per 1,000 square feet of occupancy. Overall, the portfolio has a weighted average lease term of 8.7 years.
"This is our first acquisition in the Orlando MSA, which continues our strategic expansion into both primary and strong secondary markets in the U.S.," said
For Broker Submittals:
|Managing Director||Managing Director|
|(703) 287-5830||(703) 287-5819|
|Managing Director||Senior Managing Director|
|(310) 953-4960||(703) 287-5815|
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