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Gladstone Commercial Leases 100% of Indianapolis Property

In a notable development, Gladstone Commercial Corp.GOOD completed 100% lease-up of a multi-tenant office property based in Indianapolis, IN. Renewal as well as expansion of the lease with existing tenants in the 86,495-square foot property highlights this McLean, VA-based real estate investment trust's (REIT) ability to execute anchored multi-tenant strategy in growing markets.

The headquarters of Visionary Enterprises Inc., the for-profit subsidiary of Community Health Network, occupies 71% of this office property through Feb 2026. The total lease up of the property with existing tenants is expected to boost the REIT's cash as well as straight-line rent.

Gladstone Commercial focuses on investing in and owning triple-net leased industrial and commercial real estate properties, as well as making selective long-term mortgage loans. Payment of dividends to shareholders on a monthly basis remains the company's priority.

Recently, Gladstone Commercial successfully renewed the existing leases, while executing new leases too. In fact, in 2015, the company has renewed the lease for 3 tenants which were slated to expire in 2015, as well as signed deals with 2 new tenants for a previously vacated space.

Currently, Gladstone Commercial carries a Zacks Rank #3 (Hold).

Investors interested in the REIT industry may consider stocks like CoreSite Realty Corporation COR , W.P. Carey Inc. WPC and Ashford Hospitality Prime, Inc. AHP . While both CoreSite Realty and W.P. Carey sport a Zacks Rank #1 (Strong Buy), Ashford Hospitality holds a Zacks Rank #2 (Buy).

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WP CAREY INC (WPC): Free Stock Analysis Report

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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