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Gladstone Commercial announces industrial acquisition in the Chicago MSA
Gladstone Commercial Corporation has acquired a 76,000-square-foot industrial manufacturing facility in Riverdale, Ill.
The property was acquired in a long-term sale-leaseback transaction with a 20-year absolute NNN lease. The property is 100 percent leased to American Roller Company, a diversified, outsourced maintenance and repair business providing a full suite of turnkey surface enhancement solutions for industrial equipment used across multiple end markets. The acquisition is consistent with Gladstone Commercial's growth strategy of acquiring functional assets leased to credit-worthy tenants in strong industrial markets.
"We are excited to continue expanding our industrial portfolio with a new, credit-worthy tenant and are pleased to add a well-located asset in a top industrial market with strong underlying fundamentals," said Ryan Carter, executive vice president at Gladstone Commercial.
Buzz Cooper, president at Gladstone Commercial adds that this transac