MCLEAN, VA / ACCESS Newswire / May 21, 2026 / Gladstone Commercial Corporation (Nasdaq:GOOD) ("Gladstone Commercial") is pleased to announce the acquisition of a mission-critical 153,890 square foot industrial property in Newport News, Virginia for $22.75 million. The acquired facility is 100% leased to a subsidiary of Huntington Ingalls Industries ("HII"), America's largest shipbuilder, on a long-term net lease. The transaction was made possible through internally generated cash flow without additional equity issuances. Following the transaction, Gladstone Commercial has ample availability via cash on hand and its line of credit to continue pursuing high quality industrial assets.
"We are excited to expand our industrial portfolio with a quality asset on a long-term lease to a strong, creditworthy tenant and mission-critical to American shipbuilding and the U.S. Navy, " said Nick Lindsay, Vice President of Gladstone Commercial.
"The property's characteristics and location make it well suited for HII's Newport News Shipbuilding division, and general manufacturing operations," added Greg Yayac, Senior Vice President of Gladstone Commercial. "The asset and tenant are great additions to our industrial portfolio."
Buzz Cooper, Chief Executive Officer and President, said, "We continue to focus on well-located industrial assets supported by a disciplined underwriting process. This transaction reflects our commitment to strategically expanding our portfolio and allows us to grow through internally generated capital without external equity issuances. The transaction not only increases the quality of our portfolio but increases industrial cash and straight-line rents as well."
About Gladstone Commercial (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, 2026, Gladstone Commercial's real estate portfolio consisted of 151 properties located in 27 states, totaling approximately 17.7 million square feet. For additional information, please visit www.gladstonecommercial.com.
For Broker Submittals:
Southeast/Northeast |
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Nick Lindsay |
| Ryan Carter |
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Vice President |
| Executive Vice President |
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(703) 966-3864 |
| (571) 451-0019 |
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Nick.Lindsay@gladstone.com |
| Ryan.Carter@gladstone.com |
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South Central |
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Todd Alan McDonald |
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Senior Vice President |
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(703) 287-5895 |
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Todd.McDonald@gladstone.com |
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Investor or Media Inquiries:
Buzz Cooper |
| Catherine Gerkis |
CEO & President |
| Director of Investor Relations/ESG |
(703) 287-5815 |
| (703) 287-5846 |
Buzz.Cooper@gladstone.com |
| Catherine.Gerkis@gladstone.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 (the "Securities Act"), and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). Forward-looking statements involve inherent risks and uncertainties as they relate to expectations, beliefs, projections, future plans and strategies, anticipated events, or trends concerning matters that are not historical facts and may ultimately prove to be incorrect or false. Forward-looking statements include information about possible or assumed future events, including, without limitation, those relating to the discussion and analysis of Gladstone Commercial's business, financial condition, results of operations, and our strategic plans and objectives. Words such as "may," "might," "believe," "will," "anticipate," "future," "could," "growth," "plan," "intend," "expect," "should," "would," "if," "seek," "possible," "potential," "likely" and variations of these words and similar expressions are intended to identify forward-looking statements, though not all forward-looking statements contain these words. Forward-looking statements are not guarantees of future performance and are subject to known and unknown risks, uncertainties, and other factors that could cause actual results to differ materially from those included within or contemplated by such statements, including, but not limited to, the description of risks and uncertainties in "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" of the company's Annual Report on Form 10-K for the fiscal year ended December 31, 2025, as filed with the SEC on February 18, 2026, and certain other filings made 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, except as required by law.
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
View the original press release on ACCESS Newswire:
https://www.accessnewswire.com/newsroom/en/real-estate/gladstone-commercial-announces-acquisition-in-newport-news-virginia-1168966
