Gladstone Commercial Executes 444,000 SF of Lease Extensions at Two Industrial Properties
Rhea-AI Summary
Gladstone Commercial (Nasdaq:GOOD) executed lease extensions totaling 444,000 square feet with tenant Owens-Brockway Glass Container Inc. (O-I Glass) at two industrial properties: a 290,000 SF facility in Brockport, Pennsylvania and a 154,000 SF facility in Lexington, North Carolina.
The properties serve as warehousing and distribution for O-I Glass products and are adjacent to the tenant's manufacturing operations. Management noted these are the third extensions with O-I Glass at both buildings since Gladstone Commercial's original purchase, underscoring the facilities' mission-critical role for the tenant.
Positive
- Lease extensions cover a combined 444,000 SF across two industrial properties
- Third consecutive extension with O-I Glass at both sites, indicating tenant stability
Negative
- None.
News Market Reaction
On the day this news was published, GOOD gained 0.09%, reflecting a mild positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Market Reality Check
Peers on Argus
GOOD gained 1.12% while key REIT peers were mixed: CTO (-0.55%), OLP (-0.61%), AHH (-0.87%), SAFE (+1.02%), GNL (+0.43%). This suggests a more company-specific reaction to the lease extensions.
Historical Context
| Date | Event | Sentiment | Move | Catalyst |
|---|---|---|---|---|
| Jan 13 | Distributions & guidance | Positive | +1.9% | Announced Q1 2026 monthly distributions and upcoming 4Q25 earnings schedule. |
| Dec 15 | Debt financing | Neutral | +0.1% | Closed $85M of 5.99% senior unsecured notes due 2030 for refinancing. |
| Nov 05 | 3Q25 operations | Positive | +1.6% | Highlighted 151 properties, new industrial acquisitions and 100% cash rent collections. |
| Nov 03 | 3Q25 earnings | Negative | -6.1% | Reported FFO growth but sharply lower net income to $0.02 per share. |
| Oct 30 | Earnings call notice | Neutral | +1.2% | Announced timing and access details for 3Q25 earnings call and webcast. |
GOOD has generally shown aligned reactions: modest gains on distributions, portfolio and capital markets updates, and a sharper decline following weaker net income in 3Q25 earnings.
Over the last few months, GOOD reported 3Q25 results with Core FFO of $16.4M (about $0.35 per share) and noted a drop in net income to $0.02 per share, which preceded a -6.14% move. It expanded industrial holdings, executed significant leasing, and privately placed $85M of senior unsecured notes. The company also maintained monthly distributions totaling $0.30 for 1Q26. Today’s industrial lease extensions fit into this ongoing focus on industrial assets and tenant retention.
Market Pulse Summary
This announcement highlights the execution of lease extensions covering 444,000 sq ft across two industrial properties with an existing tenant, supporting occupancy and cash flow visibility. It follows prior updates on industrial acquisitions, 100% rent collections, and unsecured debt issuance, underscoring a continued focus on industrial assets. With shares trading below the $12.76 200-day moving average and about 30.43% under the $16.63 52-week high, investors may watch upcoming earnings, leasing metrics, and tenant performance for confirmation of stability.
AI-generated analysis. Not financial advice.
MCLEAN, VA / ACCESS Newswire / January 20, 2026 / Gladstone Commercial Corporation (Nasdaq:GOOD) ("Gladstone Commercial") announced that it has executed lease extensions with Owens-Brockway Glass Container Inc. ("O-I Glass") at its 290,000 square foot industrial building in Brockport, Pennsylvania and its 154,000 square foot industrial building in Lexington, North Carolina. O-I Glass is a wholly owned subsidiary of O-I Glass, Inc.
O-I Glass is one of the leading manufacturers of glass containers in the world. The two buildings owned by Gladstone Commercial serve as warehousing and distribution facilities for glass container products manufactured by O-I Glass. In each location, the manufacturing operations are in an adjacent building that is connected to the Gladstone Commercial property.
"We are pleased to have executed another lease extension with O-I Glass in both locations," stated Greg Yayac, Senior Vice President of Gladstone Commercial. "This is the third extension we've done with them at both buildings since our original purchase, demonstrating the mission critical nature of the buildings."
"These are quality buildings leased to a strong tenant, and we are pleased to continue to have O-I Glass 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 September 30, 2025, Gladstone Commercial's real estate portfolio consisted of 151 properties located in 27 states, totaling approximately 17.7 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 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 expected use of proceeds from the sale of the Notes. Words such as "may," "will," "anticipate," "future," "could," "plan," "intend," "expect," "would," and "possible," 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 Gladstone Commercial's Annual Report on Form 10-K for the fiscal year ended December 31, 2024, as filed with the Securities and Exchange Commission (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. Gladstone Commercial 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 properties did Gladstone Commercial extend leases on with O-I Glass (GOOD)?
How much total space did Gladstone Commercial (GOOD) renew with O-I Glass on January 20, 2026?
What role do the leased Gladstone Commercial (GOOD) properties play for O-I Glass?
Does the Gladstone Commercial (GOOD) announcement indicate long-term tenant commitment from O-I Glass?
Which Nasdaq ticker is associated with Gladstone Commercial that announced the lease extensions?
