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Gladstone Commercial Announces Industrial Acquisition in Germantown, Wisconsin

1. Gladstone Commercial acquires 303,991 sq. ft. facility for $62.7 million. 2. New facility provides an attractive capitalization rate of 8.74%. 3. Leased to G&H Pets, LLC until September 2044, ensuring stable income. 4. Highlights focus on high-quality industrial assets and creditworthy tenants. 5. Supports strategic growth in pet food production and distribution.

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FAQ

Why Bullish?

The acquisition enhances asset value and income stability, similar to past successful purchases. A well-leased facility can lead to positive investor sentiment and potentially higher stock values.

How important is it?

The acquisition reflects a strategic positioning that can drive future growth and revenue, impacting market perception and thus investor decisions.

Why Long Term?

The lease through 2044 provides consistent revenue, accumulating over years. Long-term leases with strong tenants typically stabilize and enhance REIT valuations.

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Gladstone Commercial Corporation (Nasdaq:GOOD) ("Gladstone Commercial") is pleased to announce the acquisition of a newly constructed 303,991 square-foot, Class A, fully temperature controlled facility located in Germantown, Wisconsin. This state-of-the-art property was purchased for $62,700,000, providing a weighted average GAAP capitalization rate of 8.74%. The facility includes specialized freezer and cooler storage and was built to support high-capacity pet food production and distribution.The facility is 100% leased to G&H Pets, LLC through September 2044. The tenant is the in-house manufacturing platform for California Pet Partners, producing premium freeze-dried raw pet food for dogs and cats currently sold under several brands.Comments from Gladstone Commercial's Executive Vice President, Ryan Carter: "We are excited to expand our industrial portfolio with a mission-critical, high-quality asset leased to a strong, creditworthy tenant. This property stands out as one of the highest-quality assets in our portfolio and offers an attractive yield."Comments from Gladstone Commercial's President, Buzz Cooper: "We continue to focus on high-quality industrial assets supported by a disciplined underwriting process. This acquisition reflects our commitment to investing in growing markets and securing facilities leased to creditworthy tenants in expanding industries. It aligns with our strategy to build a durable portfolio that supports long-term growth and stable cash flow."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, 2025, Gladstone Commercial's real estate portfolio consisted of 141 properties located in 27 states, totaling approximately 17.3 million square feet. For additional information, please visit www.gladstonecommercial.com.For Broker Submittals:Midwest/WestSouth Central:Ryan CarterTodd Alan McDonaldExecutive Vice PresidentSenior Vice President(571) 451-0019(703) 287-5895[email protected][email protected]Southeast/NortheastNick LindsayVice President(703) 966-3864[email protected]Investor or Media Inquiries:All statements contained in this press release, other than historical facts, may constitute "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended (the "Securities Act"), and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). Forward-looking statements involve inherent risks and uncertainties as they relate to expectations, beliefs, projections, future plans and strategies, anticipated events, or trends concerning matters that are not historical facts and may ultimately prove to be incorrect or false. Forward-looking statements include information about possible or assumed future events, including, without limitation, those relating to the discussion and analysis of Gladstone Commercial's business, financial condition, results of operations, and our strategic plans and objectives. Words such as "may," "might," "believe," "will," "anticipate," "future," "could," "growth," "plan," "intend," "expect," "should," "would," "if," "seek," "possible," "potential," "likely" and variations of these words and similar expressions are intended to identify forward-looking statements, though not all forward-looking statements contain these words. Forward-looking statements are not guarantees of future performance and are subject to known and unknown risks, uncertainties, and other factors that could cause actual results to differ materially from those included within or contemplated by such statements, including, but not limited to, the description of risks and uncertainties in "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" of the company's Annual Report on Form 10-K for the fiscal year ended December 31, 2024, as filed with the SEC on February 18, 2025, and certain other filings made with the SEC. Gladstone Commercial cautions readers not to place undue reliance on any such forward-looking statements which speak only as of the date made. The company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.For further information: Gladstone Commercial Corporation, (703) 287-5893For Investor Relations inquiries related to any of the monthly dividend paying Gladstone funds, please visit www.gladstonecompanies.com.SOURCE: Gladstone Commercial Corporation

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