Gladstone Commercial GOOD recently executed a 10-year, one-month lease extension with JBT Marel Corporation at its industrial building, which spans 67,200 square feet of space in Chalfont, PA.
JBT Marel is the successor entity after the recent acquisition of Marel hf. by John Bean Technologies Corporation ("JBT").
JBT Marel is a global technology solutions provider for the food and beverage sector, focusing on the design, production, and servicing of products and systems for its customers. Additionally, it offers automated guided vehicle systems that serve a diverse range of applications, such as manufacturing, warehousing and medical facilities.
Per Greg Yayac, senior vice president of Gladstone Commercial, "This is the third extension we've done with them since our original purchase, demonstrating their commitment to the space."
Conclusion
The lease extension highlights JBT Marel’s long-term commitment to GOOD’s Chalfont facility. With this extension, Gladstone secures a reliable, high-quality tenant in a mission-critical facility, further strengthening its portfolio stability.
Over the past month, shares of this Zacks Rank #3 (Hold) company have declined 4% against the industry’s growth of 2.5%.
Image Source: Zacks Investment Research
Stocks to Consider
Some better-ranked stocks from the broader REIT sector are Plymouth Industrial REIT PLYM and Crown Castle CCI, each carrying a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
The Zacks Consensus Estimate for PLYM’s 2025 FFO per share has moved 2 cents northward to $1.88 over the past month.
The Zacks Consensus Estimate for CCI’s 2025 FFO per share has moved 3 cents upward to $4.21 over the past month.
Note: Anything related to earnings presented in this write-up represents funds from operations (FFO), a widely used metric to gauge the performance of REITs.
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This article originally published on Zacks Investment Research (zacks.com).
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
