Gladstone Commercial Corporation announced that it purchased a 26,080 square foot data center building in Pittsburgh, Pennsylvania, for $4.2 million plus fees and expenses. The building is leased on a long-term basis to Expedient Communications.
Expedient Communications is part of a network of nationwide data centers which offers a wide range of hosting and managed services. These proven managed services combined with redundant SAS 70 Type II Certified and PCI-DSS compliant data centers enables Expedient to deliver premier collocation, network and managed services to enterprise, commercial, education and government entities.
“We are excited to add another mission critical data center with a strong operator like Expedient to our portfolio,” said Chris Massey, the Managing Director responsible for the transaction.
“This acquisition continues our plan for growth and we are pleased to add this property to our substantial list of quality investments,” said Chip Stelljes, the Company’s President and Chief Investment Officer.
Gladstone Commercial Corporation is a publicly-traded real estate investment trust (“REIT”) that focuses on investing in and owning triple-net leased industrial, commercial, medical and retail real estate properties. The Company currently owns 72 properties. Including payments through December 2011, the Company has paid 89 consecutive monthly cash distributions on its common stock. The Company has paid 72 consecutive monthly cash distributions on its Series A preferred stock, 63 consecutive monthly cash distributions on its Series B preferred stock and 21 consecutive monthly cash distributions on its Senior Common Stock. The Company has never skipped, reduced or deferred a monthly distribution since inception, over eight years ago. Additional information can be found at www.gladstonecompanies.com.
