Gladstone Commercial Corporation Acquired 246,000 SF, Two4-Property Industrial Portfolio

August 9, 2022 | James Sprow | Blue Vault

Gladstone Commercial Corporation (Nasdaq GS:GOOD) acquired a 246,000 square foot, two-property industrial portfolio located in Vineland and Bridget, New Jersey for $32.5 million on August 5, 2022.

Gladstone Commercial Corporation is looking for acquisitions. Bob Cutlip, Gladstone Commercial’s former President, said “Our team is staying actively engaged in our target markets as we believe acquisition opportunities will continue to arise that we can and we will pursue. In summary, our third quarter activities reflected strong leasing and rental collection success, continued active engagement to identify and close industrial acquisitions and collectively positions us well to pursue growth opportunities”.

Arthur Cooper, current President of Gladstone Commercial, said, “Our current pipeline of acquisition candidates is approximately 310 million in volume, representing 19 properties, and all of which are industrial. Of the 19 properties one property is in due diligence, totally 18.8 million. 6 properties are in the letter of intent stage, totaling 104 million. And the balance is under initial review. Our team is staying actively engaged in the markets as we believe acquisition opportunities will continue to rise and we can and will pursue”.

Source:  S&P Global Market Intelligence