MCLEAN, VA / ACCESSWIRE / August 4, 2022 / Gladstone Commercial Corporation (Nasdaq:GOOD) ('Gladstone Commercial') announced today that it executed a 5-year lease renewal with Corning, Inc. ('Corning') at its 120,000 SF industrial building in Horseheads, New York. The property has been fully occupied by Corning since Gladstone Commercial's purchase in 2005.
Corning (NYSE:GLW) specializes in glass science, ceramic science, and optical physics, as well as related materials and technologies. The company traces its origins to 1851 and is headquartered in Corning, New York.
'We are pleased to extend Corning's lease for a second time under our ownership,' stated EJ Wislar, Chief Investment Officer of Gladstone Commercial.
'This lease extension highlights the continued importance of our building to Corning's operations,' added Greg Yayac, Senior Vice President of Gladstone Commercial. 'This transaction increases the weighted average lease term of the portfolio and ensures continued full occupancy of the asset.'
'We have a long relationship with Corning at the building and this lease extension solidifies their commitment to the space,' said Buzz Cooper, President of Gladstone Commercial.
About Gladstone Commercial Corporation (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, 2022, Gladstone Commercial's real estate portfolio consisted of 136 properties located in 27 states, totaling approximately 17.0 million square feet. For additional information please visit www.gladstonecommercial.com.
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SOURCE: Gladstone Commercial Corporation
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