Gladstone Commercial Corporation (NASDAQ:GOOD) (“Gladstone Commercial”) announced today that it has executed a new lease totaling 20,719 square feet on previously vacant space at its 55,480 square foot industrial property located in Bolingbrook, Illinois. The new lease expires in early 2024 and brings the property’s occupancy to 100% with no lease rollover until April 2022.

The tenant operates and franchises businesses engaged in cleaning carpets, upholstery, and ventilation air ducts and in providing water mitigation and restoration services for businesses throughout the United States. Brandon Flickinger (Director, Real Estate, of Gladstone Commercial) commented, “We have leased 34,535 sf over the past four months at this property, reflecting strong transaction velocity in this Chicago submarket.”

"I am proud of our team's successful leasing efforts in 2016," remarked Bob Cutlip, President of Gladstone Commercial. "Fully leasing this building will increase our same store revenue while reducing our property operating expenses which will positively impact our returns."

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. Gladstone Commercial’s real estate portfolio consists of 97 properties located in 24 states, totaling approximately 11.0 million square feet. For additional information please visit www.gladstonecommercial.com.