GOOD News & Events

Gladstone Commercial Corporation (GOOD) announced the acquisition of a mission-critical 153,890 square foot industrial property in Newport News, Virginia for $22.75M. The acquired facility is 100% leased to a subsidiary of Huntington Ingalls Industries (HII) on a long-term net lease. The transaction was made possible through internally generated cash flow without additional equity issuances. Following the transaction, Gladstone Commercial has ample availability via cash on hand and its line of credit to continue pursuing high quality industrial assets.

Gladstone Commercial Corporation announced several executive officer appointments in connection with the Company's strategic succession plan. David Gladstone has stepped down as the Company's CEO, effective immediately; however, he will remain as the Company's Chairman of the Board of Directors, a member of the Company's investment committee, and also continue as Chairman, CEO, and President of the Company's affiliated investment adviser, Gladstone Management Corporation. Arthur "Buzz" Cooper, the Company's President since 2022 who joined the Gladstone organization in its founding year, has succeeded Mr. Gladstone as CEO and will function in the dual role of CEO and President. John Sateri, a twenty-year veteran at Gladstone and a current member of the Company's investment committee, has been appointed CIO. Gary Gerson, CFO and Assistant Treasurer of the Company since 2021 and who previously served as Treasurer from 2006-2012, has also been named Executive Vice President of the Company and will continue to serve in all three roles. Ryan Carter, a current Managing Director of the Company since 2021, has also been elevated to Executive Vice President.