In a notable development, Gladstone Commercial Corp. GOOD has inked a lease deal with Cardiac Cath Lab of Baytown, LP. This 7-year lease deal comprises 6,791 square feet of space at Gladstone Commercial’s 12,000-square foot medical office property in Baytown, TX. The deal will likely be accretive for the McLean, VA-based real estate investment trust (REIT), going forward.
The lease agreement, for the property located close to the San Jacinto Methodist Hospital, will be effective from Jan 1, 2016. Notably, Cardiac Cath Lab is a joint venture between 7 doctors and National Cardiovascular Partners, aimed at building outpatient cardiac catheterization and vascular labs in partnership with physician entrepreneurs. Enticed by the prospects of this well-located property, Cardiac Cath Lab has opted for it.
Gladstone Commercial focuses on investing in and owning triple-net leased industrial and commercial real estate properties, as well as making selective long-term mortgage loans. Payment of shareholders’ dividends on a monthly basis remains the company’s priority.
Investors interested in the REIT industry may consider stocks like CoreSite Realty Corporation COR, Iron Mountain Incorporated IRM and Ashford Hospitality Prime, Inc. AHP. While both CoreSite Realty and Iron Mountain Incorporated sport a Zacks Rank #1 (Strong Buy), Ashford Hospitality holds a Zacks Rank #2 (Buy).
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