Gladstone Commercial Corporation is a real estate investment trust. It is focused on acquiring, owning and operating net leased industrial and office properties across the United States. It conducts substantially all its business activities through an Umbrella Partnership Real Estate Investment Trust structure, by which all its properties are held, directly or indirectly, by Gladstone Commercial Limited Partnership (the Operating Partnership). It owns approximately 151 properties, comprised of 17.7 million square feet of rentable space in 27 states. Its properties are geographically diversified, and its tenants cover a cross-section of business sectors and range in size from small to large private and public companies. Its properties are in various states, such as Texas, Pennsylvania, Florida, Ohio, Georgia, Alabama, North Carolina, Michigan, Colorado, Wisconsin, and others. Its properties have tenants from various industries, such as automotive, telecommunications, among others.