Gladstone Commercial Announces Industrial Acquisition In Allentown, PA For A Purchase Price Of $7.8M
Portfolio Pulse from Benzinga Newsdesk
Gladstone Commercial Corporation (NASDAQ:GOOD) has acquired a 70,000 square foot industrial manufacturing facility in Allentown, Pennsylvania, for a total purchase price of $7.8 million. The property is 100% leased to Alleguard, a manufacturer and distributor of custom EPS, EPP and ARCEL foam products. The acquisition is part of Gladstone's growth strategy of acquiring functional assets leased to credit-worthy tenants in strong industrial markets.
October 13, 2023 | 12:34 pm
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Gladstone Commercial Corporation has made a strategic acquisition that aligns with its growth strategy. This could potentially strengthen its portfolio and enhance its revenue streams.
The acquisition of the industrial manufacturing facility is a strategic move by Gladstone Commercial Corporation. It aligns with their growth strategy of acquiring functional assets leased to credit-worthy tenants in strong industrial markets. This could potentially enhance their portfolio and increase their revenue streams, which could have a positive impact on their stock price.
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