Gladstone (GOOD) Purchases New Jersey Office Building for $11.1 Million
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Gladstone Commercial Corporation (NASDAQ: GOOD) (the "Company") reported today that it purchased a 60,111 square foot office building in Parsippany, New Jersey for $11.1 million. The tenant has leased the property through 2026 and has one option to renew the lease for an additional period of three years. The purchase was partially financed with a $7.2 million mortgage loan.
"This acquisition continues our growth in 2011 and builds on our track record of adding great real estate leased to high quality, non-investment grade tenants to our portfolio," said Chip Stelljes, the Company's President and Chief Investment Officer.
"This acquisition continues our growth in 2011 and builds on our track record of adding great real estate leased to high quality, non-investment grade tenants to our portfolio," said Chip Stelljes, the Company's President and Chief Investment Officer.
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