Gladstone Commercial Corp

gladstonecommercial.com

What Do They Do?

Acquires, owns and leases industrial and office properties to businesses across a range of industries.

How Do They Make Money?

Collects rent from business tenants under property leases over the lease term, along with reimbursements for many property operating costs.

FY2025 revenue

Who Are Their Customers?

Leases properties to tenants ranging from small businesses to large private and public companies across many industries.

Do Revenues Turn Into Profits?

Yes. It kept 12 cents of every revenue dollar as net income in FY2025.

Net income, FY2025

12% of revenue

▼ −20% vs FY2024 ($24M, 16%)

How Are They Changing?

Since the FY2025 annual report

Latest quarter: Q2 FY2026, the three months to Jun 30, 2026

Revenue: ▲ +11%; vs $39.5M in Q2 FY2025
Net income: ▲ +78%; vs $4.6M in Q2 FY2025

Mar 23, 2026 CEO David Gladstone stepped down; Arthur “Buzz” Cooper became CEO David Gladstone remained Chairman, and Arthur “Buzz” Cooper took on the CEO role in addition to serving as President.

Growing. Revenue grew 17% in 4 years, from $137.7M in FY2021 to $161.3M in FY2025, about 4% a year.

Narrower property focus The older report described single-tenant industrial and office properties as the primary focus; the latest makes single-tenant industrial the primary focus and says office is not its primary focus.

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