Gladstone Commercial Corporation Announces $10.7M Property Acquisition in North Carolina

Gladstone Commercial Corporation GOOD reported today that on Monday, April 4, 2011, it purchased a 60,000 square foot office building in Hickory, North Carolina for $10.7 million. The property was built-to-suit for the current tenant in 2008, who has nine years remaining on the lease. The tenant also has two options to extend the lease for additional periods of five years each. The guarantor of the lease is a public, investment grade corporation.