Gladstone commercial [NASDAQ: GOOD] reported that the company has purchased a food manufacturing building. Furthermore, The building is 155,000 sqft located in Pittsburgh, Pennsylvania. The industrial transaction was worth $12.8M. Additionally, The industrial property is a practical, class A Manufacturing and Distribution center with 28′ clear heights. The property is a licensed food-grade and gives plentiful region to numerous manufacturing lines and storage capacity for raw materials and manufactured goods. Moreover, The property is 100% rented by TruFood Mfg
The procurement of this property is steady with Gladstone Commercial’s strategy of obtaining high-quality, modern resources with credit-worthy tenants, situated within its focused development markets. This is Gladstone Commercial’s second purchase in Pittsburgh.
Matt Tucker, Executive Vice President of Gladstone stated “We are glad to grow our industrial impression in the Northeast locale. Furthermore, we are eager to enter the Pittsburgh market. We trust Pittsburgh presents a huge opportunity to turn into a solid development market for us. We are additionally eager to have TruFood Mfg. as a long term occupant.”