MCLEAN, Va., Sept. 08, 2020 (GLOBE NEWSWIRE) -- Gladstone Commercial Corporation (Nasdaq: GOOD) announced today that it has signed a lease extension with Haier US Appliance Solutions at their industrial facility located at 6900 Highway 411 North, in Crandall, Georgia. Haier originally signed a 10.5 year lease for a 504,400 square foot build to suit facility that was delivered in March of 2020. Haier agreed to extend the lease by the additional two years in exchange for Gladstone Commercial assisting in the installation of a redundant generator and making minor improvements to the exterior common areas. Haier utilizes the property to import and distribute appliance components through the Appalachian Regional Port via rail from the Port of Savannah.

“We are excited to work with Haier and help them achieve their corporate goals,” said Buzz Cooper, Gladstone Commercial’s Senior Managing Director for the South Central Region. “The lease extension gives us over 12 years of lease term with a high-quality credit tenant whose business is expanding. It is an exciting opportunity for us and validates our investment thesis.”

“Haier is a great tenant. We are excited about this opportunity and future opportunities with them,” said Perry Finney, Senior Asset Manager for Gladstone Commercial.

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 June 30, 2020, Gladstone Commercial’s real estate portfolio consisted of 122 properties located in 28 states, totaling approximately 15.1 million square feet. For additional information please visit www.gladstonecommercial.com.