MCLEAN, VA / ACCESSWIRE / July 26, 2021 / Gladstone Commercial Corporation (Nasdaq: GOOD) ("Gladstone Commercial") announced it has entered into a ten year lease renewal for its entire 60,245 square foot, single story flex office building, located at 6550 First Park Ten in San Antonio, Texas. The property is leased to PIMA Medical Institute, which operates a medical trade school at the building and has been at the location since 2018.
"We are very happy to be able to continue our relationship with PIMA. They run a first-class operation and have been wonderful to work with. PIMA is a perfect example of the high quality of our tenant roster," said Buzz Cooper, Gladstone Commercial's Chief Investment Officer. "The transaction results in a 23 percent increase in our straight-line rent and demonstrates the strength of the markets we operate in," said Perry Finney, Senior Vice President of Asset Management for Gladstone Commercial.
About Gladstone Commercial Corporation (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.
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SOURCE: Gladstone Commercial Corporation