$13.010
+0.030 (+0.23%)At close
GOOD News
GOOD Events
Gladstone Commercial Signs 10-Year Lease with Ohio Life Sciences Association
Gladstone Commercial announced that it has executed a 10-year, 5-month lease with the Ohio Life Sciences Association for 34,361 square feet of its 86,301 square foot office / R&D building located in New Albany, Ohio. This brings the building to 100% occupancy.
Gladstone Commercial Appoints George Stelljes to Board of Directors
Gladstone Commercial Corporation announced that George Stelljes, III has been elected to the 2028 class of directors for the Company, effective June 1, 2026. Mr. Stelljes has also been appointed to serve on the Company's Compensation Committee, Ethics, Nominating & Corporate Governance Committee and Valuation Committee. In connection with Mr. Stelljes' appointment, the size of the Company's board of directors has been expanded from seven to eight directors. Stelljes is currently the managing partner of St. John's Capital, LLC, a vehicle used to make private equity investments.
Gladstone Commercial Acquires Virginia Industrial Property for $22.75M
Gladstone Commercial Corporation (GOOD) announced the acquisition of a mission-critical 153,890 square foot industrial property in Newport News, Virginia for $22.75M. The acquired facility is 100% leased to a subsidiary of Huntington Ingalls Industries (HII) 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.
Gladstone Commercial Announces New Executive Appointments
Gladstone Commercial Corporation announced several executive officer appointments in connection with the Company's strategic succession plan. David Gladstone has stepped down as the Company's CEO, effective immediately; however, he will remain as the Company's Chairman of the Board of Directors, a member of the Company's investment committee, and also continue as Chairman, CEO, and President of the Company's affiliated investment adviser, Gladstone Management Corporation. Arthur "Buzz" Cooper, the Company's President since 2022 who joined the Gladstone organization in its founding year, has succeeded Mr. Gladstone as CEO and will function in the dual role of CEO and President. John Sateri, a twenty-year veteran at Gladstone and a current member of the Company's investment committee, has been appointed CIO. Gary Gerson, CFO and Assistant Treasurer of the Company since 2021 and who previously served as Treasurer from 2006-2012, has also been named Executive Vice President of the Company and will continue to serve in all three roles. Ryan Carter, a current Managing Director of the Company since 2021, has also been elevated to Executive Vice President.
Gladstone Commercial modifies and prolongs credit agreement
Gladstone Commercial amended, extended and upsized its syndicated revolving credit and term loan facility from $475 million to $600 million, with an option to increase such amount by a maximum of $250 million for a total credit facility of $850 million. The aggregate term loan component was upsized by $50 million, while the revolving credit facility was upsized by $75 million. The increased availability under the facility will support the company's growth, providing liquidity for future acquisitions and business operations. The revolving credit facility maturity was extended to October 2029 and the maturity dates for the Term Loan A and Term Loan B components were extended until October 2029 and February 2030, respectively. The amended credit facility also provides the company with an option to extend the Term Loan C component until February 2029.
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