Gladstone Commercial Corporation reported its financial results for the second quarter of 2025, revealing a net income of $4.6 million, a significant increase from $1.6 million in the same period last year. For the six months ended June 30, 2025, the company achieved a net income of $9.8 million, compared to $5.1 million for the first half of 2024. Total operating revenues for the second quarter rose to $39.5 million, up 6.7% from $37.1 million in the prior year, driven primarily by an increase in lease revenue, which reached $39.5 million, compared to $37.1 million in the same quarter of 2024.
The company’s total assets increased to $1.21 billion as of June 30, 2025, up from $1.09 billion at the end of 2024. This growth was largely attributed to the acquisition of ten industrial properties during the first half of 2025, totaling approximately 874,871 square feet and costing $153.1 million. In contrast, Gladstone acquired five properties in the same period of 2024 for $12 million. The company’s real estate portfolio now consists of 143 properties across 27 states, with a weighted average remaining lease term of 14.3 years for the newly acquired properties.
Operationally, Gladstone reported a 98.7% occupancy rate across its portfolio, with 100% of base rents collected for the first half of 2025. The company’s employee headcount remained stable, and it continues to focus on maintaining high occupancy rates and controlling expenses. The weighted average interest rate on its mortgage notes payable was approximately 4.22% as of June 30, 2025, with total mortgage notes payable amounting to $257.9 million.
Looking ahead, Gladstone Commercial Corporation expressed confidence in its liquidity position, with $11.7 million in cash and cash equivalents and an available borrowing capacity of $27 million under its credit facility. The company plans to continue its strategy of acquiring industrial properties while managing its existing portfolio effectively. The management remains cautious about market conditions but believes that its diversified tenant base and geographic spread will mitigate risks associated with economic fluctuations.
About GLADSTONE COMMERCIAL CORP
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