MCLEAN, VA / ACCESSWIRE / June 7, 2023 / Gladstone Commercial Corporation (Nasdaq:GOOD) ("Gladstone Commercial") announced today that it has executed an 11-year, 1-month lease with Moss & Associates LLC ("Moss") for the entirety of its 119,224 SF office building in Fort Lauderdale, Florida, commencing on June 1, 2023. Moss had been subleasing approximately 40% of the building and had previously executed a 5-year, 4-month deal beyond the sublease term for that space. It will now expand into the full building on a longer-term direct lease with Gladstone Commercial.
"We are very excited to have Moss expand into the remaining three floors, preserving the building as a single-tenant asset," said EJ Wislar, Chief Investment Officer of Gladstone Commercial.
"This long-term deal reflects Moss's commitment to the space and their desire to expand their relationship with us," added Greg Yayac, Senior Vice President of Gladstone Commercial. "We strive to develop strong partnerships with our tenants, and we look forward to continuing to work with them."
"Our ability to execute this deal in an overall challenging leasing environment highlights the quality of the asset," said Buzz Cooper, President of Gladstone Commercial.
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. As of March 31, 2023, Gladstone Commercial's real estate portfolio consisted of 137 properties located in 27 states, totaling approximately 17.2 million square feet. For additional information please visit www.gladstonecommercial.com.
For Broker Submittals: Investor or Media Inquiries:
| EJ Wislar | Buzz Cooper |
| Chief Investment Officer | President |
| (703) 462-1027 | (703) 287-5815 |
| EJ.Wislar@gladstonecompanies.com | Buzz.Cooper@gladstonecompanies.com |
For Asset Management Matters:
| Greg Yayac | |
| Senior Vice President / Director | |
| (703) 287-5912 | |
| Gregory.Yayac@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 Gladstone Commercial'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, 2022, as filed with the SEC on February 22, 2023, and certain other filings we make with the SEC. Gladstone Commercial 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 further information:
Gladstone Commercial Corporation, (703) 287-5893
For Investor Relations inquiries related to any of the monthly dividend paying Gladstone funds, please visit www.gladstonecompanies.com.
SOURCE: Gladstone Commercial Corporation
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