Gladstone Commercial Acquires Major Industrial Portfolio

Gladstone Commercial Corporation has announced the acquisition of a significant industrial portfolio, encompassing 693,236 square feet of space across Michigan, Indiana, and Georgia. The $54.5 million transaction includes facilities dedicated to manufacturing, distribution, and warehousing. These properties are leased back to TI Group Automotive Systems under a 20-year absolute net lease agreement.

Ryan Carter, Executive Vice President, highlighted the strategic integration of manufacturing properties to Gladstone's portfolio. Todd McDonald, Senior Vice President, remarked on the cross-regional portfolio's role in supporting TI Automotive's operations. Buzz Cooper, President, emphasized the enduring benefits of the long-term lease, enhancing the portfolio's quality and stability in key markets.