Gladstone Commercial offers a business update
MCLEAN, VA / ACCESSWIRE / October 5, 2022 / Gladstone Commercial Corp (Nasdaq:GOOD) (“we” or “Gladstone Commercial”) is a real estate investment trust (“REIT”) focused on acquiring, owning and operating net leased industrial and office properties in the United States . We provide the following business update regarding our portfolio performance at a time of market volatility.
- 100% of September cash rent paid and collected.
- The utilization of the portfolio is 96.9% as of September 30, 2022.
- We acquired two industrial properties totaling 116,703 square feet in Jacksonville, Fla. and Fort Payne, Alabama for a total purchase price of $13.6 million.
- Year to date, we have acquired 1,105,006 square feet of commercial real estate consisting of eleven lots and six tenants with a weighted average lease term remaining at the time of acquisition of 13.8 years for a total cost of $97.5 million.
- Year to date we have added or completed 501,501 square feet for nine tenants with an average remaining lease term of 8.1 years. The annualized linear rent from these transactions totals $5.8 million.
- Since January 1, 2022 and through September 30, 2022, we have issued 1,992,706 common shares for net proceeds of $40.6 million.
- We continue to have ample liquidity and a strong capital structure. As of September 30, 2022, our currently available liquidity through our revolving credit facility and cash on hand is approximately $64.0 million.
- Since our IPO in 2003, we have never reduced or suspended our dividend.
About Gladstone Commercial (Nasdaq: GOOD)
Gladstone Commercial is a real estate investment trust focused on the acquisition, ownership and operation of net leased industrial and office properties in the United States. As of June 30, 2022, Gladstone Commercial’s real estate portfolio consisted of 136 properties located in 27 states totaling approximately 17.0 million square feet. For more information, see