MCLEAN, Va., July 19, 2017 (GLOBE NEWSWIRE) -- Gladstone Commercial Corporation(NASDAQ:GOOD) (“Gladstone Commercial”) announced today that it has executed a 10-year lease extension with United Envelope, LLC at its 223,275 square foot industrial property in Mt. Pocono, PA. The lease extension will maintain the property’s 100% occupancy with United Envelope through July 2031.
United Envelope is an 85 year old envelope printing and manufacturing company providing direct mail and transactional envelopes to some of the nation’s largest mailers.
“We acquired this property in 2004”, stated Brandon Flickinger, Managing Director of Gladstone Commercial Corporation, “and the lease extension by United Envelope confirms their commitment to this location in the I-81 northeast distribution corridor.”
“I am proud of our team’s continued successful leasing efforts in 2017,” remarked Bob Cutlip, President of Gladstone Commercial. “Extending the term on this property further increases the weighted average remaining lease term in the Gladstone portfolio and further stabilizes same store rental income.”
About Gladstone Commercial (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. As of March 31, 2017, its real estate portfolio consisted of 95 properties located in 24 states, totaling approximately 10.9 million square feet. For additional information please visit www.gladstonecommercial.com.