Gladstone Commercial Executes 10-Year Lease Extension at Industrial Property in Chalfont, PA
Rhea-AI Summary
Gladstone Commercial Corporation (Nasdaq:GOOD) has secured a 10-year, 1-month lease extension with JBT Marel Corporation for its 67,200 square foot industrial building in Chalfont, Pennsylvania. JBT Marel, formed following the acquisition of Marel hf. by John Bean Technologies Corporation, is a leading global food and beverage technology solutions provider.
The extension marks the third renewal with JBT Marel since Gladstone's original purchase, highlighting the tenant's long-term commitment to the facility. The property serves as a mission-critical facility for JBT Marel, which specializes in automated guided vehicle systems for manufacturing, warehousing, and medical facilities.
Positive
- Secured long-term 10-year lease extension for 67,200 sq ft industrial property
- Third consecutive renewal with same tenant demonstrates strong tenant relationship
- Property houses mission-critical operations for established food tech company
Negative
- None.
News Market Reaction 1 Alert
On the day this news was published, GOOD gained 1.95%, reflecting a mild positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
MCLEAN, VA / ACCESS Newswire / September 10, 2025 / Gladstone Commercial Corporation (Nasdaq:GOOD) ("Gladstone Commercial") announced that it has executed a 10-year, 1-month lease extension with JBT Marel Corporation ("JBT Marel") at its 67,200 square foot industrial building in Chalfont, Pennsylvania. JBT Marel is the successor entity following the recently closed acquisition of Marel hf. by John Bean Technologies Corporation ("JBT").
JBT Marel designs, produces, and services products and systems for its customers as a leading global food and beverage technology solutions provider. It also provides automated guided vehicle systems with a wide variety of applications including manufacturing, warehousing and medical facilities.
"We are pleased to have executed another lease extension with JBT Marel as our full building tenant," stated Greg Yayac, Senior Vice President of Gladstone Commercial. "This is the third extension we've done with them since our original purchase, demonstrating their commitment to the space."
"This is a mission critical facility for a quality tenant, and we are pleased to continue to have JBT Marel as a tenant in our portfolio," added 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, 2025, Gladstone Commercial's real estate portfolio consisted of 143 properties located in 27 states, totaling approximately 17.0 million square feet. For additional information please visit www.gladstonecommercial.com.
For Broker Submittals: For Asset Management Matters:
Nick Lindsay | Greg Yayac |
Vice President | Senior Vice President / Director |
(703) 966-3864 | (703) 287-5912 |
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
FAQ
What is the length and location of Gladstone Commercial's new lease extension with JBT Marel?
Who is the tenant for Gladstone Commercial's Chalfont, PA property?
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