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$22,200,000

 
Third Party Purchase  
Salt Lake City, UT  

Gladstone Commercial Corporation (NASDAQ: GOOD) purchased a three-story, 86,409 square foot, single-tenant office building located in Draper, Utah, for $22.2 million at an average cap rate of 7.95%. The Class A property is leased to EMC Corporation (NYSE: EMC) through December 2021. The property is located in the Lone Peak Center Office Park, a master-planned park in the southeast submarket of Salt Lake City, Utah and serves as one of EMC's eight global Centers of Excellence.

EMC is a leading technology company that develops, delivers, and supports IT storage hardware and cloud computing software to customers around the world. EMC is rated A/A1 by S&P and Moody's respectively.

"This acquisition marks our first acquisition in the Salt Lake City market and our fifth acquisition in the Western U.S., which continues our strategic expansion into both primary and secondary markets in the Western U.S.," said Andrew White, Managing Director of the Company. "The 6.5 years remaining on the lease to EMC should provide attractive stable returns to our investors over the long term given the attributes of the real estate and strong economic fundamentals driving the Salt Lake City real estate market."

 
   
 
    For more information on this transaction, please contact:     
   

Andrew White
Managing Director
(310) 953-4960

Brandon Flickinger
Principal
(703) 287-5819

   
   
 
    THE GLADSTONE COMPANIES    
   

Leaders in private equity, debt and real estate ownership and financing, the Gladstone Companies are a family of public and private investment funds. Our funds invest in commercial real estate, farmland, and small and medium-sized companies and provide financing to such businesses across the capital structure, from second lien and mezzanine debt, to equity and real estate financing solutions.

Financing for the Gladstone Companies is provided by four public investment vehicles: Gladstone Capital Corporation (NASDAQ: GLAD), Gladstone Investment Corporation (NASDAQ: GAIN), Gladstone Commercial Corporation (NASDAQ: GOOD), and Gladstone Land Corporation (NASDAQ: LAND).

 
   
 
 

WASHINGTON, DC
1521 Westbranch Drive
Suite 100
McLean, VA
22102

LOS ANGELES, CA
2301 Rosecrans Avenue
Suite 4194
El Segundo, CA
90245

CHICAGO, IL
200 South Wacker Drive
31st Floor
Chicago, IL
60606

NEW YORK, NY
245 Park Avenue
39th Floor
New York, NY
10167

                                       
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1521 Westbranch Drive · Suite 100 · McLean, VA 22102
(703) 287-5800 · (703) 287-5801 fax