Gladstone Commercial Announces Industrial Acquisition in Harrison Township, Michigan
Gladstone Commercial (Nasdaq:GOOD) has acquired a 215,102 square foot industrial facility in Harrison Township, Michigan for $16.25 million. The property, featuring manufacturing, distribution, and warehouse capabilities, was purchased at a 9.59% GAAP capitalization rate.
The facility is 100% leased to Yanfeng International Automotive Technology US, a subsidiary of a global investment-grade automotive supplier specializing in automotive components. This acquisition aligns with Gladstone's strategy of acquiring mission-critical industrial assets in growth markets.
Gladstone Commercial (Nasdaq:GOOD) ha acquisito una struttura industriale di 215.102 piedi quadrati a Harrison Township, Michigan, per 16,25 milioni di dollari. L'immobile, dotato di capacità di produzione, distribuzione e magazzino, è stato acquistato con un tasso di capitalizzazione GAAP del 9,59%.
La struttura è interamente locata a Yanfeng International Automotive Technology US, una controllata di un fornitore automobilistico globale con rating di investimento, specializzato in componenti per auto. Questa acquisizione è in linea con la strategia di Gladstone di acquisire asset industriali essenziali in mercati in crescita.
Gladstone Commercial (Nasdaq:GOOD) ha adquirido una instalación industrial de 215,102 pies cuadrados en Harrison Township, Michigan, por 16.25 millones de dólares. La propiedad, que cuenta con capacidades de fabricación, distribución y almacenamiento, fue comprada con una tasa de capitalización GAAP del 9.59%.
La instalación está 100% arrendada a Yanfeng International Automotive Technology US, una subsidiaria de un proveedor automotriz global con grado de inversión, especializado en componentes automotrices. Esta adquisición se alinea con la estrategia de Gladstone de adquirir activos industriales críticos en mercados en crecimiento.
Gladstone Commercial (Nasdaq:GOOD)은 미시간주 해리슨 타운십에 위치한 215,102평방피트 규모의 산업 시설을 1,625만 달러에 인수했습니다. 제조, 유통 및 창고 기능을 갖춘 이 부동산은 9.59% GAAP 자본화율로 매입되었습니다.
이 시설은 글로벌 투자등급 자동차 부품 공급업체의 자회사인 Yanfeng International Automotive Technology US에 100% 임대되어 있습니다. 이번 인수는 성장 시장에서 핵심 산업 자산을 확보하려는 Gladstone의 전략과 부합합니다.
Gladstone Commercial (Nasdaq:GOOD) a acquis une installation industrielle de 215 102 pieds carrés à Harrison Township, Michigan, pour 16,25 millions de dollars. La propriété, dotée de capacités de fabrication, de distribution et d'entreposage, a été achetée à un taux de capitalisation GAAP de 9,59%.
L'installation est entièrement louée à Yanfeng International Automotive Technology US, une filiale d'un fournisseur automobile mondial de qualité investissement spécialisé dans les composants automobiles. Cette acquisition s'inscrit dans la stratégie de Gladstone d'acquérir des actifs industriels essentiels sur des marchés en croissance.
Gladstone Commercial (Nasdaq:GOOD) hat eine 215.102 Quadratfuß große Industrieanlage in Harrison Township, Michigan, für 16,25 Millionen US-Dollar erworben. Die Immobilie mit Produktions-, Vertriebs- und Lagerkapazitäten wurde zu einer GAAP-Kapitalisierungsrate von 9,59% gekauft.
Die Anlage ist zu 100 % vermietet an Yanfeng International Automotive Technology US, eine Tochtergesellschaft eines globalen, investment-grade Automobilzulieferers, der auf Fahrzeugkomponenten spezialisiert ist. Diese Akquisition entspricht Gladstones Strategie, mission-kritische Industrieanlagen in Wachstumsregionen zu erwerben.
- Acquisition at attractive 9.59% GAAP capitalization rate
- 100% occupancy with investment-grade tenant
- Immediately accretive to earnings
- Strategic location in Detroit metro manufacturing hub
- Extends weighted average lease term
- Significant capital deployment of $16.25 million may impact near-term liquidity
Insights
Gladstone's $16.25M industrial acquisition offers attractive 9.59% cap rate with investment-grade tenant, bolstering portfolio quality and income stability.
This $16.25 million acquisition represents a strategic enhancement to Gladstone Commercial's industrial portfolio. The 9.59% GAAP capitalization rate is particularly noteworthy, as it significantly exceeds typical industrial cap rates in today's market, which generally range from 5-7% depending on location and quality. This spread indicates exceptional value creation for shareholders from day one.
The property's 100% occupancy by Yanfeng, an investment-grade automotive supplier, adds immediate cash flow stability without vacancy risk. This tenant quality provides enhanced income predictability compared to non-investment-grade lessees, while the automotive manufacturing connection offers resilience against e-commerce disruption that affects other industrial subsectors.
Harrison Township's location within the Detroit metro area positions the asset in one of America's core manufacturing hubs, benefiting from the recent reshoring trend and automotive industry investments. The 215,102 square foot facility's crane-served capabilities make it specialized and potentially difficult to replace for the tenant, increasing renewal probability.
Most importantly, management notes the acquisition is immediately accretive and extends their weighted average lease term (WALT), directly addressing two key REIT performance metrics. The 9.59% cap rate acquisition in today's competitive industrial market demonstrates Gladstone's ability to source off-market deals with superior returns, potentially driving above-average FFO growth compared to industrial REIT peers.
MCLEAN, VA / ACCESS Newswire / June 26, 2025 / Gladstone Commercial Corporation (Nasdaq:GOOD) ("Gladstone Commercial") is pleased to announce the acquisition of a 215,102 square foot, crane-served industrial manufacturing, distribution, and warehouse facility located in Harrison Township, Michigan. The property was acquired for
The facility is
This acquisition aligns with Gladstone Commercial's strategy of acquiring mission-critical, high-quality industrial assets leased to strong credit tenants in growth markets.
"We are excited to expand our industrial portfolio with a well-located, mission-critical facility leased to a world-class tenant. This acquisition strengthens our existing relationship with Yanfeng, adds synergies across our portfolio, and supports our long-term strategy of acquiring functional assets with strong tenant credit and long-term upside," stated Ryan Carter, Executive Vice President of Gladstone Commercial.
"This addition further advances our strategy of expanding our industrial footprint in core U.S. manufacturing markets. The facility is leased long-term to a creditworthy tenant and is strategically located in the Detroit metro area, which continues to benefit from strong demand tied to domestic manufacturing. The acquisition is immediately accretive, extends our weighted average lease term, and reinforces our focus on durable cash flows and industrial growth," said Buzz Cooper, President of 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 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/West | South Central | |
Ryan Carter | Todd Alan McDonald | |
Executive Vice President | Senior Vice President | |
(571) 451-0019 | (703) 287-5895 | |
Southeast/Northeast | ||
Nick Lindsay | ||
Vice President | ||
(703) 966-3864 |
Investor or Media Inquiries:
Buzz Cooper | Catherine Gerkis | |
President | Director of Investor Relations/ESG | |
(703) 287-5815 | (703) 287-5846 | |
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) 287-5893
For Investor Relations inquiries related to any of the monthly dividend paying Gladstone funds, please visit www.gladstonecompanies.com.
SOURCE: Gladstone Commercial Corporation
View the original press release on ACCESS Newswire
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