Gladstone Commercial Corporation
21.7.2021 22:12:01 CEST | ACCESS Newswire | Press release
MCLEAN, VA / ACCESSWIRE / July 21, 2021 / Gladstone Commercial Corporation (NASDAQ:GOOD) ("Gladstone Commercial") announced today that it acquired an 80,604 square foot industrial facility on 18.6 acres with significant outdoor storage in Pacific (St. Louis), Missouri for $22.0 million on July 21, 2021. The initial capitalization rate for the acquisition was 6.6%, with an average capitalization rate of 7.5%. The property is Gladstone Commercial's second industrial acquisition in the St. Louis, Missouri MSA.
The property is 100% leased to ADB Companies, LLC, with 17.5 years of remaining absolute NNN lease term. ADB Companies is an infrastructure solutions provider within the telecom and power sectors, offering a full-suite of infrastructure construction services from design through repairs. Constructed in phases from 2018 through 2021, the site features a Class A office building that will serve as ADB's headquarters as well as an industrial maintenance facility, indoor warehousing, and a large laydown yard for the Tenant's inventory and equipment.
"The acquisition of the ADB Companies facility continues our core strategy of acquiring mission-critical properties in our targeted growth locations. The facility will serve as the headquarters for a strong tenant and will be a great addition to our portfolio," said Buzz Cooper, Chief Investment Officer of Gladstone Commercial.
"We are excited to continue our recent strategy of acquiring quality industrial assets with functional laydown areas within fundamentally strong industrial markets," stated EJ Wislar, Senior Vice President and Director of Gladstone Commercial.
Bob Cutlip, President of Gladstone Commercial, agreed, "This transaction will continue our strategy of increasing our allocation to industrial buildings, and we are happy to add high quality real estate and credit to the portfolio."
The property was marketed by Brad Moulder of Stan Johnson Company and Stephen V. Jacquemin of SJ Financial Group.
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, 2021, Gladstone Commercial's real estate portfolio consisted of 120 properties located in 27 states, totaling approximately 15.5 million square feet. For additional information please visit www.gladstonecommercial.com.
For Broker Submittals:
South Central:
Buzz Cooper
Chief Investment Officer
(703) 287-5815
Buzz.Cooper@gladstonecompanies.com
Southeast:
EJ Wislar
Senior Vice President and Director
(703) 462-1027
EJ.Wislar@gladstonecompanies.com
West:
Mac Dobbins
Principal
(703) 287-5845
Mac.Dobbins@gladstonecompanies.com
Midwest/Northeast:
Todd McDonald
Associate
(703) 287-5895
Todd.McDonald@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 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 captions "Forward-Looking Statements" and "Risk Factors" of Gladstone Commercial's Annual Report on Form 10-K for the fiscal year ended December 31, 2020, as filed with the SEC on February 16, 2021 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. Gladstone Commercial 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
+1-703-287-5893
For Investor Relations inquiries related to any of the monthly dividend paying Gladstone funds, please visit www.gladstone.com.
SOURCE: Gladstone Commercial Corporation
View source version on accesswire.com:
https://www.accesswire.com/656532/Gladstone-Commercial-Announces-220-Million-Industrial-Acquisition-in-Pacific-MO
To view this piece of content from www.accesswire.com, please give your consent at the top of this page.
About ACCESS Newswire
Subscribe to releases from ACCESS Newswire
Subscribe to all the latest releases from ACCESS Newswire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from ACCESS Newswire
British Library Selects Preservica for Large-Scale Digital Preservation Program4.3.2026 15:00:00 CET | Press release
OXFORD, UK AND BOSTON, MA / ACCESS Newswire / March 4, 2026 / Preservica, the leader in AI-powered Active Digital Preservation™, today announced that it has been selected by the British Library to provide a Digital Preservation Repository solution and project implementation services to support the long-term preservation and management of the Library's extensive, petabyte- scale digital collections. Following a formal procurement and evaluation process, Preservica will deliver a secure, cloud-based Digital Preservation platform to support the continuous acquisition, management, and long-term preservation of the Library's diverse and expanding digital collections - including e-books, e-journals, sound recordings, UK websites, eTheses, digitised heritage materials and more - strengthening its ability to safeguard digital content for future generations. "Robust and secure Digital Preservation is essential for the effective custodianship, management and long-term readability of modern digit
Accu-Time Systems Announces Strategic Integration with Connecteam for Seamless Workforce Management4.3.2026 15:00:00 CET | Press release
The collaboration brings enterprise-grade stride80 time clocks to the Connecteam ecosystem, offering businesses a unified solution for high-accuracy attendance and real-time data sync. BOSTON, MASSACHUSETTS / ACCESS Newswire / March 4, 2026 / Accu-Time Systems (ATS), a leading provider of employee time collection solutions, today announced a strategic partnership with Connecteam, the all-in-one platform for managing distributed workforces. This collaboration integrates Connecteam's workforce management system with Accu-Time Systems' stride80 employee time clocks-delivering a unified, accurate, and secure way to collect employee time for payroll processing. Through this integration, employee punches recorded on stride80 time clocks are automatically transmitted to Connecteam's time tracking system in real time. The result is a streamlined data flow that eliminates manual entry, reduces payroll errors, and saves organizations valuable administrative time. "By integrating Connecteam's pla
Formerra Appoints Tom Kelly as Chief Executive Officer4.3.2026 14:00:00 CET | Press release
CLEVELAND, OHIO / ACCESS Newswire / March 4, 2026 / Formerra, LLC ("Formerra"), a leading distributor of engineered thermoplastic resins, additives, elastomers, and other specialty materials, today announced the appointment of Tom Kelly as Chief Executive Officer ("CEO"). A seasoned executive with over 30 years of specialty and engineered materials experience, Tom is known for leading teams to drive differentiated growth and building high-performing organizations set up for long-term success. The former CEO, Cathy Dodd, will stay on as Special Advisor to the Board and will remain an investor in the Company. Tom brings extensive commercial, supply chain, and distribution experience with a strong background in scaling global enterprises in the engineered materials sector. After previous roles at Cabot Microelectronics and Chemtura, Tom's most recent role was Senior Vice President of Engineered Materials at Celanese, where he led key commercial and operational initiatives across engineere
New GTDC Research Details Distribution's Influence on AI, Cloud and Hyperscaler Sales and Adoption3.3.2026 16:00:00 CET | Press release
IT distributors have become digital ecosystem orchestrators that unify cloud, AI, hyperscaler, and subscription-based business models. Distribution significantly accelerates vendor growth while reducing risk, allowing suppliers to scale efficiently, expand partner bases, enter new markets and mitigate financial and operational liabilities. Digital platforms are creating a new GTM "operating system". These systems offer end-to-end digital commerce and intelligence layers to manage procurement, billing, lifecycles and analytics. TAMPA, FL / ACCESS Newswire / March 3, 2026 / The Global Technology Distribution Council (GTDC), the world's largest consortium of technology distributors, has released a new research report, Distribution: The Digital Force Multiplier. Developed by CommCentric Solutions, this study examines how IT distribution has transformed and continues to evolve into a critical enabler of cloud, artificial intelligence (AI), hyperscaler and platform-driven business models acr
Datavault AI Reports Significant Institutional Ownership Growth as Platform Expansion Accelerates3.3.2026 14:08:00 CET | Press release
PHILADELPHIA, PA / ACCESS Newswire / March 3, 2026 / Datavault AI Inc. ("Datavault AI" or the "Company") (NASDAQ:DVLT), a provider of data monetization, credentialing, digital engagement, and real‑world asset tokenization technologies, today highlighted a marked increase in institutional ownership alongside continued commercial expansion across media and enterprise markets. Between the fourth quarter of 2025 and February 2026, several major asset managers significantly expanded their positions in Datavault AI. According to recent public filings, Vanguard increased its holdings from approximately 393,000 shares to 11.8 million shares. State Street expanded from roughly 335,000 shares to 10.0 million shares. BlackRock increased its position from approximately 136,000 shares to 4.1 million shares. These changes represent percentage increases of approximately 2,900%, 2,800%, and 3,000%, respectively. Management views this increase in institutional participation as support for Datavault AI'
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom