McLean-based Gladstone Commercial Corp. has acquired a Class-A office building in the Philadelphia suburb of King of Prussia for $25.5 million. The 103,334 square foot asset is leased for the next 15 years to Radial Inc. which utilizes it as the company’s headquarters. Gladstone is a real estate investment trust focused on acquiring, owning and operating net-leased industrial and office properties across the United States. Its real estate portfolio includes 96 properties in 24 states totaling approximately 11 million square feet. āThis is our first acquisition in the King of Prussia submarket of Philadelphia, which continues our strategic expansion into both primary and strong secondary markets in the U.S.,ā said Matt Tucker, Gladstoneās managing director.
