Gladstone Commercial Corporation (GOOD) reported strong operational performance for Q3 and the nine months ended September 30, 2025, characterized by aggressive growth funded by increased leverage.
Financial Performance & Operations: Occupancy remained extremely high at 99.1% across the 151-property, 17.7 million sq ft portfolio. 3Q Lease Revenue grew 4.1% YoY to $40.8M, supported by a 5.2% growth in 9M lease revenue, where variable payments saw a sharp 25.3% increase. Despite this, GAAP Net Income declined year-over-year for both the quarter and nine months, primarily due to the non-recu
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