Gladstone Commercial Acquires New Industrial Facility in Wisconsin

Gladstone Commercial Corporation, a real estate investment trust, has purchased a 303,991 square-foot industrial facility in Germantown, Wisconsin. The state-of-the-art, temperature-controlled building was acquired for $62.7 million, yielding a weighted average GAAP capitalization rate of 8.74%. This facility includes specialized freezer and cooler storage, tailored for high-capacity pet food production.

G&H Pets, LLC, a manufacturing platform for California Pet Partners, occupies the facility under a lease agreement through September 2044. Gladstone Commercial's executives highlight the property's quality and its alignment with the company's strategy of investing in expanding markets and maintaining a portfolio of high-quality assets with stable cash flow.