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Gladstone Commercial Corp. (NASDAQ:GOOD) said Monday it closed out last year with an occupancy rate of 96.8% at Dec. 31, 2023, down from 97.4% at Nov. 6, 2023.
The REIT noted that 100% of Q4 2023 cash base rents have been paid and collected.
From Jan. 1, 2023, to Dec. 31, 2023, GOOD extended or executed 1,428,830 square feet covering 15 tenants with a weighted average remaining lease term of 10.8 years. The annualized straight-line rent of these transactions totaled $10.7M, an increase of 13%.
During the same period, the company has issued and sold 238,078 shares of common stock for net proceeds of $4.1M.
As of Dec. 31, 2023, GOOD had available liquidity of ~$54.3M through its revolving credit facility and cash on hand.
