Gladstone Commercial extends 10-year lease with JBT Marel in Pennsylvania

MCLEAN, Va. - Gladstone Commercial Corporation (NASDAQ:GOOD), currently trading at $12.85 and offering a substantial 9.23% dividend yield, has secured a 10-year, 1-month lease extension with JBT Marel Corporation at its 67,200 square foot industrial building in Chalfont, Pennsylvania, according to a press release statement issued Wednesday.

JBT Marel, formed following the acquisition of Marel hf. by John Bean Technologies Corporation, will continue to occupy the entire building. The company designs and produces technology solutions for the food and beverage industry, as well as automated guided vehicle systems for manufacturing, warehousing, and medical facilities.

"This is the third extension we’ve done with them since our original purchase, demonstrating their commitment to the space," said Greg Yayac, Senior Vice President of Gladstone Commercial.

The lease extension represents continued occupancy for what Gladstone describes as a "mission critical facility" for the tenant.

Gladstone Commercial is a real estate investment trust that focuses on acquiring and operating net leased industrial and office properties across the United States. As of June 30, 2025, the company’s portfolio included 143 properties across 27 states, totaling approximately 17.0 million square feet. The REIT has maintained dividend payments for 23 consecutive years, demonstrating consistent shareholder returns. For detailed analysis and more insights about Gladstone Commercial’s performance, investors can access comprehensive research reports on InvestingPro, which covers over 1,400 US equities.

In other recent news, Gladstone Commercial Corporation reported mixed financial results for the second quarter of 2025. The company fell short of earnings per share expectations, posting $0.03 compared to the anticipated $0.0775, marking a 61.29% shortfall. However, Gladstone Commercial exceeded revenue forecasts, recording $39.53 million against an expected $38.18 million, surpassing projections by 3.54%. Additionally, the company has updated its at-the-market equity offering sales agreement. Effective August 12, 2025, Robert W. Baird & Co. Incorporated was removed as a sales agent, while Huntington Securities, Inc. was added. The sales agreement now includes BofA Securities, Inc., Goldman Sachs & Co. LLC, Huntington Securities, Inc., KeyBanc Capital Markets Inc., and Fifth Third Securities, Inc. as sales agents. Gladstone Commercial has sold approximately 6,271,144 shares under the registration statement, generating gross proceeds of about $93.5 million. Approximately $156.5 million in shares remain available for sale under the current prospectus supplement.

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