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MCLEAN, VA / ACCESS Newswire / February 20, 2025 / Gladstone Commercial Corporation (NASDAQ:GOOD) ("Gladstone Commercial") has acquired a 215,474 square foot, Class A industrial manufacturing facility in Houston, Texas, at a weighted GAAP capitalization rate of 8.31%. The facility, which features modern construction and crane-served capabilities, was acquired through a long-term sale-leaseback transaction with a 10-year absolute NNN lease.
The property is 100% leased to CSE W-Industries, a U.S. based subsidiary of CSE Global specializing in system integration for industries such as energy, infrastructure, and electrification. Operating primarily in the Americas, CSE W-Industries designs and delivers tailored solutions, including electrical control systems, hydraulic power units, and pressure vessels for data centers and other critical applications. The acquisition is consistent with Gladstone Commercial's growth strategy of acquiring high-quality, functional assets leased to creditworthy tenants in strong industrial markets.
The Property was marketed by Wes Williams and Robert Alinger of Colliers' Houston office.
Comments from Gladstone Commercial's Head of South-Central Region, Todd McDonald: "We are excited to partner with another high-quality tenant in a long-term sale-leaseback transaction. This facility is a highly functional, crane-served, mission-critical asset for the tenant's operations and serves as a key manufacturing hub for its electrification business."
Comments from Gladstone Commercial's President, Buzz Cooper: "We remain focused on increasing our industrial concentration in line with our long-term strategy while maintaining a disciplined approach to acquisitions. This transaction reflects our commitment to acquiring high-quality mission-critical assets in strong, growing markets. This modern, highly functional facility, backed by a strong creditworthy tenant under a long-term lease, improves our industrial portfolio and supports our goal of expanding with well-located, high-performing assets. Acquiring a modern facility in a competitive market reinforces our investment strategy and ability to partner with tenants in sectors positioned for long-term growth."
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 December 31, 2024, Gladstone Commercial's real estate portfolio consisted of 135 properties located in 27 states, totaling approximately 16.9 million square feet. For additional information, please visit www.gladstonecommercial.com.