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Schedule III - Real Estate and Accumulated Depreciation

12 Months Ended

Dec. 31, 2021

SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation Disclosure [Abstract]

SCHEDULE III—REAL ESTATE AND ACCUMULATED DEPRECIATION

GLADSTONE COMMERCIAL CORPORATION

SCHEDULE III—REAL ESTATE AND ACCUMULATED DEPRECIATION

DECEMBER 31, 2021 (Dollars in Thousands)

						Initial Cost									Total Cost
Location of Property			Encumbrances			Land			Buildings & Improvements			Improvement Costs Capitalized Subsequent to Acquisition			Land			Buildings & Improvements			Total  (1)			Accumulated Depreciation (2)			Net Real Estate			Year Construction/ Improvements			Date Acquired
Raleigh, North Carolina (3)
Office Building			$	—		$	960		$	4,481		$	1,345		$	960		$	5,826		$	6,786		$	2,720		$	4,066		1997			12/23/2003
Canton, Ohio (3)
Office Building			—			186			3,083			500			187			3,582			3,769			1,764			2,005			1994			1/30/2004
Akron, Ohio (3)
Office Building			—			1,973			6,771			4,025			1,974			10,795			12,769			4,068			8,701			1968/1999			4/29/2004
Canton, North Carolina
Industrial Building			3,015			150			5,050			7,285			150			12,335			12,485			3,614			8,871			1998/2014			7/6/2004
Crenshaw, Pennsylvania (3)
Industrial Building			—			100			6,574			269			100			6,843			6,943			3,078			3,865			1991			8/5/2004
Lexington, North Carolina (3)
Industrial Building			—			820			2,107			69			820			2,176			2,996			1,008			1,988			1986			8/5/2004
Mt. Pocono, Pennsylvania (3)
Industrial Building			—			350			5,819			18			350			5,837			6,187			2,614			3,573			1995/1999			10/15/2004
San Antonio, Texas (3)
Office Building			—			843			7,514			2,240			843			9,754			10,597			4,315			6,282			1999			2/10/2005
Big Flats, New York
Industrial Building			1,988			275			6,459			515			275			6,974			7,249			2,823			4,426			2001			4/15/2005
Wichita, Kansas (3)
Office Building			—			1,525			9,703			674			1,525			10,377			11,902			4,478			7,424			2000			5/18/2005
Eatontown, New Jersey
Office Building			2,498			1,351			3,520			534			1,351			4,054			5,405			1,812			3,593			1991			7/7/2005
Duncan, South Carolina (3)
Industrial Building			—			783			10,790			1,889			783			12,679			13,462			5,250			8,212			1984/2001/2007			7/14/2005
Duncan, South Carolina (3)
Industrial Building			—			195			2,682			470			195			3,152			3,347			1,305			2,042			1984/2001/2007			7/14/2005
Clintonville, Wisconsin (3)
Industrial Building			—			55			4,717			3,250			55			7,967			8,022			2,890			5,132			1992/2013			10/31/2005
Burnsville, Minnesota (3)
Office Building			—			3,511			8,746			7,352			3,511			16,098			19,609			7,451			12,158			1984			5/10/2006
Menomonee Falls, Wisconsin (3)
Industrial Building			—			625			6,911			686			625			7,597			8,222			3,158			5,064			1986/2000			6/30/2006
Baytown, Texas
Medical Office Building			—			221			2,443			2,478			221			4,921			5,142			3,314			1,828			1997			7/11/2006
Mason, Ohio
Office Building			3,424			797			6,258			721			797			6,979			7,776			3,010			4,766			2002			1/5/2007
Raleigh, North Carolina (3)
Industrial Building			—			1,606			5,513			4,700			1,606			10,213			11,819			4,066			7,753			1994			2/16/2007
Tulsa, Oklahoma
Industrial Building			—			—			14,057			579			—			14,636			14,636			6,318			8,318			2004			3/1/2007
Hialeah, Florida (3)
Industrial Building			—			3,562			6,672			769			3,562			7,441			11,003			2,908			8,095			1956/1992			3/9/2007
Mason, Ohio (3)
Retail Building			—			1,201			4,961			—			1,201			4,961			6,162			1,879			4,283			2007			7/1/2007
Cicero, New York (3)
Industrial Building			—			299			5,019			33			299			5,052			5,351			1,843			3,508			2005			9/6/2007
Grand Rapids, Michigan
Office Building			4,699			1,629			10,500			308			1,629			10,808			12,437			4,121			8,316			2001			9/28/2007
Bolingbrook, Illinois (3)
Industrial Building			—			1,272			5,003			991			1,272			5,994			7,266			2,537			4,729			2002			9/28/2007
Decatur, Georgia (3)
Medical Office Building			—			783			3,241			—			783			3,241			4,024			1,227			2,797			1989			12/13/2007
Decatur, Georgia (3)
Medical Office Building			—			205			847			—			205			847			1,052			321			731			1989			12/13/2007
Decatur, Georgia (3)
Medical Office Building			—			257			1,062			—			257			1,062			1,319			403			916			1989			12/13/2007
Lawrenceville, Georgia (3)
Medical Office Building			—			678			2,807			—			678			2,807			3,485			1,064			2,421			2005			12/13/2007
Snellville, Georgia (3)
Medical Office Building			—			176			727			—			176			727			903			276			627			1986			12/13/2007
Covington, Georgia (3)

						Initial Cost									Total Cost
Location of Property			Encumbrances			Land			Buildings & Improvements			Improvement Costs Capitalized Subsequent to Acquisition			Land			Buildings & Improvements			Total  (1)			Accumulated Depreciation (2)			Net Real Estate			Year Construction/ Improvements			Date Acquired
Medical Office Building			—			232			959			—			232			959			1,191			363			828			2000			12/13/2007
Conyers, Georgia (3)
Medical Office Building			—			296			1,228			—			296			1,228			1,524			465			1,059			1994			12/13/2007
Cumming, Georgia
Medical Office Building			2,534			738			3,055			2,524			741			5,576			6,317			1,768			4,549			2004			12/13/2007
Reading, Pennsylvania
Industrial Building			3,209			491			6,202			135			491			6,337			6,828			2,222			4,606			2007			1/29/2008
Fridley, Minnesota
Office Building			4,228			1,354			8,074			1,762			1,383			9,807			11,190			3,842			7,348			1985/2006			2/26/2008
Pineville, North Carolina
Industrial Building			1,866			669			3,028			293			669			3,321			3,990			1,206			2,784			1985			4/30/2008
Marietta, Ohio
Industrial Building			4,553			829			6,607			529			829			7,136			7,965			2,472			5,493			1992/2007			8/29/2008
Chalfont, Pennsylvania
Industrial Building			4,146			1,249			6,420			1,024			1,249			7,444			8,693			2,612			6,081			1987			8/29/2008
Orange City, Iowa
Industrial Building			4,588			258			5,861			6			258			5,867			6,125			2,027			4,098			1990			12/15/2010
Hickory, North Carolina
Office Building			5,529			1,163			6,605			357			1,163			6,962			8,125			3,179			4,946			2008			4/4/2011
Springfield, Missouri (3)
Office Building			—			1,700			12,038			924			1,845			12,817			14,662			4,018			10,644			2006			6/20/2011
Boston Heights, Ohio
Office Building			2,184			449			3,010			10			449			3,020			3,469			1,350			2,119			2011			10/20/2011
Parsippany, New Jersey (3)
Office Building			—			1,696			7,077			252			1,696			7,329			9,025			2,692			6,333			1984			10/28/2011
Dartmouth, Massachusetts (3)
Retail Location			—			—			4,236			—			—			4,236			4,236			1,196			3,040			2011			11/18/2011
Springfield, Missouri
Retail Location			1,114			—			2,275			—			—			2,275			2,275			795			1,480			2005			12/13/2011
Pittsburgh, Pennsylvania
Office Building			2,238			281			3,205			743			281			3,948			4,229			1,441			2,788			1968			12/28/2011
Ashburn, Virginia
Office Building			5,816			706			7,858			—			705			7,859			8,564			2,569			5,995			2002			1/25/2012
Ottumwa, Iowa
Industrial Building			2,350			212			5,072			310			212			5,382			5,594			1,670			3,924			1970			5/30/2012
New Albany, Ohio
Office Building			6,468			1,658			8,746			—			1,658			8,746			10,404			3,082			7,322			2007			6/5/2012
Columbus, Georgia
Office Building			3,646			1,378			4,520			—			1,378			4,520			5,898			1,779			4,119			2012			6/21/2012
Columbus, Ohio (3)
Office Building			—			542			2,453			166			542			2,619			3,161			1,103			2,058			1981			6/28/2012
Jupiter, Florida (3)
Office Building			—			1,160			11,994			—			1,160			11,994			13,154			3,392			9,762			2011			9/26/2012
Fort Worth, Texas
Industrial Building			9,646			963			15,647			—			963			15,647			16,610			4,358			12,252			2005			11/8/2012
Columbia, South Carolina
Office Building			14,280			1,905			20,648			438			1,905			21,086			22,991			8,144			14,847			2010			11/21/2012
Egg Harbor, New Jersey
Office Building			2,833			1,627			3,017			315			1,627			3,332			4,959			1,092			3,867			1985			3/28/2013
Vance, Alabama (3)
Industrial Building			—			457			10,529			6,692			457			17,221			17,678			3,979			13,699			2013			5/9/2013
Blaine, Minnesota
Office Building			7,025			1,060			10,518			755			842			11,491			12,333			3,610			8,723			2009			5/10/2013
Austin, Texas
Office Building			30,089			2,330			44,021			122			2,330			44,143			46,473			18,330			28,143			1999			7/9/2013
Allen, Texas
Office Building			7,358			2,699			7,945			1,487			2,699			9,432			12,131			3,851			8,280			1998			7/10/2013
Englewood, Colorado (3)
Office Building			—			1,503			11,739			208			1,503			11,947			13,450			4,139			9,311			2008			12/11/2013
Novi, Michigan
Industrial Building			3,580			352			5,626			—			352			5,626			5,978			1,560			4,418			1988			12/27/2013
Allen, Texas
Retail Building			2,582			874			3,634			—			874			3,634			4,508			974			3,534			2004			3/27/2014
Colleyville, Texas
Retail Building			2,382			1,277			2,424			—			1,277			2,424			3,701			656			3,045			2000			3/27/2014
Coppell, Texas
Retail Building			2,742			1,448			3,349			—			1,448			3,349			4,797			880			3,917			2005			5/8/2014
Columbus, Ohio (3)

						Initial Cost									Total Cost
Location of Property			Encumbrances			Land			Buildings & Improvements			Improvement Costs Capitalized Subsequent to Acquisition			Land			Buildings & Improvements			Total  (1)			Accumulated Depreciation (2)			Net Real Estate			Year Construction/ Improvements			Date Acquired
Office Building			—			990			8,017			2,797			990			10,814			11,804			3,553			8,251			1986			5/13/2014
Taylor, Pennsylvania
Industrial Building			21,600			3,101			25,405			1,248			3,101			26,653			29,754			6,444			23,310			2000/2006			6/9/2014
Aurora, Colorado (3)
Industrial Building			—			2,882			3,917			96			2,882			4,013			6,895			1,124			5,771			1983			7/1/2014
Indianapolis, Indiana
Office Building			5,314			502			6,422			1,892			498			8,318			8,816			2,574			6,242			1981/2014			9/3/2014
Denver, Colorado (3)
Industrial Building			—			1,621			7,071			7,353			1,621			14,424			16,045			2,033			14,012			1985			10/31/2014
Monroe, Michigan
Industrial Building			9,409			658			14,607			195			658			14,802			15,460			3,229			12,231			2004			12/23/2014
Monroe, Michigan
Industrial Building			6,566			460			10,225			(20)			459			10,206			10,665			2,252			8,413			2004			12/23/2014
Richardson, Texas
Office Building			12,673			2,728			15,372			1,135			2,728			16,507			19,235			4,850			14,385			1985/2008			3/6/2015
Birmingham, Alabama (3)
Office Building			—			650			2,034			91			650			2,125			2,775			656			2,119			1982/2010			3/20/2015
Dublin, Ohio
Office Building			3,654			1,338			5,058			1,086			1,338			6,144			7,482			1,650			5,832			1980/Various			5/28/2015
Draper, Utah
Office Building			11,664			3,248			13,129			74			3,248			13,203			16,451			3,524			12,927			2008			5/29/2015
Hapeville, Georgia
Office Building			6,696			2,272			8,778			263			2,272			9,041			11,313			2,123			9,190			1999/2007			7/15/2015
Villa Rica, Georgia
Industrial Building			3,403			293			5,277			18			293			5,295			5,588			1,226			4,362			2000/2014			10/20/2015
Taylorsville, Utah
Office Building			8,610			3,008			10,659			501			3,008			11,160			14,168			3,299			10,869			1997			5/26/2016
Fort Lauderdale, Florida
Office Building			12,270			4,117			15,516			3,689			4,117			19,205			23,322			4,637			18,685			1984			9/12/2016
King of Prussia, Pennsylvania
Office Building			14,176			3,681			15,739			473			3,681			16,212			19,893			3,675			16,218			2001			12/14/2016
Conshohocken, Pennsylvania
Office Building			9,795			1,996			10,880			—			1,996			10,880			12,876			1,966			10,910			1996			6/22/2017
Philadelphia, Pennsylvania
Industrial Building			14,924			5,896			16,282			27			5,906			16,299			22,205			3,436			18,769			1994/2011			7/7/2017
Maitland, Florida
Office Building			14,904			3,073			19,661			830			3,091			20,473			23,564			4,809			18,755			1998			7/31/2017
Maitland, Florida
Office Building			7,472			2,095			9,339			9			2,095			9,348			11,443			1,717			9,726			1999			7/31/2017
Columbus, Ohio
Office Building			8,784			1,926			11,410			(1)			1,925			11,410			13,335			2,211			11,124			2007			12/1/2017
Salt Lake City, Utah (3)
Office Building			—			4,446			9,938			771			4,446			10,709			15,155			2,190			12,965			2007			12/1/2017
Vance, Alabama (3)
Industrial Building			—			459			12,224			44			469			12,258			12,727			1,709			11,018			2018			3/9/2018
Columbus, Ohio
Industrial Building			4,427			681			6,401			—			681			6,401			7,082			1,087			5,995			1990			9/20/2018
Detroit, Michigan
Industrial Building			6,149			1,458			10,092			10			1,468			10,092			11,560			1,159			10,401			1997			10/30/2018
Detroit, Michigan (3)
Industrial Building			—			662			6,681			10			672			6,681			7,353			780			6,573			2002/2016			10/30/2018
Lake Mary, Florida
Office Building			10,150			3,018			11,756			87			3,020			11,841			14,861			1,539			13,322			1997/2018			12/27/2018
Moorestown, New Jersey (3)
Industrial Building			—			471			1,825			—			471			1,825			2,296			325			1,971			1991			2/8/2019
Indianapolis, Indiana (3)
Industrial Building			—			255			2,809			—			255			2,809			3,064			313			2,751			1989/2019			2/28/2019
Ocala, Florida (3)
Industrial Building			—			1,286			8,535			—			1,286			8,535			9,821			795			9,026			2001			4/5/2019
Ocala, Florida (3)
Industrial Building			—			725			4,814			849			724			5,664			6,388			473			5,915			1965/2007			4/5/2019
Delaware, Ohio (3)
Industrial Building			—			316			2,355			—			316			2,355			2,671			264			2,407			2005			4/30/2019
Tifton, Georgia
Industrial Building			8,168			—			15,190			1,725			1,725			15,190			16,915			1,296			15,619			1995/2003			6/18/2019
Denton, Texas (3)
Industrial Building			—			1,497			4,151			—			1,496			4,152			5,648			446			5,202			2012			7/30/2019
Temple, Texas (3)

						Initial Cost									Total Cost
Location of Property			Encumbrances			Land			Buildings & Improvements			Improvement Costs Capitalized Subsequent to Acquisition			Land			Buildings & Improvements			Total  (1)			Accumulated Depreciation (2)			Net Real Estate			Year Construction/ Improvements			Date Acquired
Industrial Building			—			200			4,335			65			200			4,400			4,600			403			4,197			1973/2006			9/26/2019
Temple, Texas (3)
Industrial Building			—			296			6,425			99			296			6,524			6,820			597			6,223			1978/2006			9/26/2019
Indianapolis, Indiana (3)
Industrial Building			—			1,158			5,162			4			1,162			5,162			6,324			667			5,657			1967/1998			11/14/2019
Jackson, Tennessee
Industrial Building			4,540			311			7,199			—			311			7,199			7,510			490			7,020			2019			12/16/2019
Carrollton, Georgia
Industrial Building			4,035			291			6,720			—			292			6,719			7,011			442			6,569			2015/2019			12/17/2019
New Orleans, Louisiana
Industrial Building			3,618			2,168			4,667			(2)			2,166			4,667			6,833			502			6,331			1975			12/17/2019
San Antonio, Texas
Industrial Building			3,713			775			6,877			(2)			773			6,877			7,650			526			7,124			1985			12/17/2019
Port Allen, Louisiana
Industrial Building			2,751			292			3,411			(2)			291			3,410			3,701			329			3,372			1983/2005			12/17/2019
Albuquerque, New Mexico
Industrial Building			1,780			673			2,291			(3)			671			2,290			2,961			182			2,779			1998/2017			12/17/2019
Tucson, Arizona
Industrial Building			3,332			819			4,636			(2)			817			4,636			5,453			346			5,107			1987/1995/2005			12/17/2019
Albuquerque, New Mexico
Industrial Building			3,370			818			5,219			(4)			815			5,218			6,033			383			5,650			2000/2018			12/17/2019
Indianapolis, Indiana (3)
Industrial Building			—			489			3,956			223			493			4,175			4,668			295			4,373			1987			1/8/2020
Houston, Texas
Industrial Building			9,574			1,714			14,170			3			1,717			14,170			15,887			799			15,088			2000/2018			1/27/2020
Charlotte, North Carolina
Industrial Building			5,172			1,458			6,778			4			1,461			6,779			8,240			486			7,754			1995/1999/2006			1/27/2020
St. Charles, Missouri
Industrial Building			2,861			924			3,749			4			928			3,749			4,677			219			4,458			2012			1/27/2020
Crandall, Georgia
Industrial Building			16,871			2,711			26,632			172			2,711			26,804			29,515			1,442			28,073			2020			3/9/2020
Terre Haute, Indiana (3)
Industrial Building			—			502			8,076			—			502			8,076			8,578			322			8,256			2010			9/1/2020
Montgomery, Alabama (3)
Industrial Building			—			599			11,290			3			602			11,290			11,892			545			11,347			1990/1997			10/14/2020
Huntsville, Alabama
Industrial Building			10,090			1,445			15,040			—			1,445			15,040			16,485			574			15,911			2001			12/18/2020
Pittsburgh, Pennsylvania
Industrial Building			6,375			1,422			10,094			150			1,422			10,244			11,666			474			11,192			1994			12/21/2020
Findlay, Ohio
Industrial Building			5,368			258			8,847			—			258			8,847			9,105			298			8,807			1992/2008			1/22/2021
Baytown, Texas (3)
Industrial Building			—			1,604			5,533			3			1,607			5,533			7,140			145			6,995			2018			6/17/2021
Pacific, Missouri (3)
Industrial Building			—			926			7,294			—			926			7,294			8,220			106			8,114			2019/2021			7/21/2021
Pacific, Missouri (3)
Industrial Building			—			235			1,852			—			235			1,852			2,087			27			2,060			2019/2021			7/21/2021
Pacific, Missouri (3)
Industrial Building			—			607			4,782			—			607			4,782			5,389			70			5,319			2019/2021			7/21/2021
Pacific, Missouri (3)
Industrial Building			—			257			2,027			—			257			2,027			2,284			29			2,255			2019/2021			7/21/2021
Peru, Illinois (3)
Industrial Building			—			89			1,413			—			89			1,413			1,502			23			1,479			1987/1998			8/20/2021
Peru, Illinois (3)
Industrial Building			—			140			2,225			—			140			2,225			2,365			37			2,328			1987/1998			8/20/2021
Charlotte, North Carolina (3)
Industrial Building			—			1,400			10,615			—			1,400			10,615			12,015			71			11,944			1972/2018			11/3/2021
Atlanta, Georgia (3)
Industrial Building			—			1,255			8,787			599			1,255			9,386			10,641			9			10,632			1974			12/21/2021
Crossville, Tennessee
Industrial Building			16,000			434			24,589			—			434			24,589			25,023			19			25,004			2020			12/21/2021
			$	452,868		$	148,023		$	989,917		$	87,318		$	149,773		$	1,075,485		$	1,225,258		$	266,672		$	958,586

(1)The aggregate cost for land and building improvements for federal income tax purposes is the same as the total gross cost of land, building improvements and acquisition costs capitalized for asset acquisitions under ASC 360, which is $1,225.3 million.

(2)Depreciable life of all buildings is the shorter of the useful life of the asset or 39 years. Depreciable life of all improvements is the shorter of the useful life of the assets or the life of the respective leases on each building, which range from 5-20 years.

(3)These properties are in our unencumbered pool of assets on our Credit Facility.

The following table reconciles the change in the balance of real estate during the years ended December 31, 2021, 2020 and 2019, respectively (in thousands):

						2021						2020						2019
Balance at beginning of period						$	1,140,205					$	1,064,389					$	949,822
Additions:
Acquisitions during period						85,169						111,049						108,972
Improvements						14,495						11,696						10,580
Deductions:
Dispositions during period						(14,611)						(43,383)						(3,172)
Impairments during period						—						(3,546)						(1,813)
Balance at end of period						$	1,225,258					$	1,140,205		(1)			$	1,064,389		(2)

(1)The real estate figure includes $11.5 million of real estate held for sale as of December 31, 2020.

(2)The real estate figure includes $7.4 million of real estate held for sale as of December 31, 2019.

The following table reconciles the change in the balance of accumulated depreciation during the years ended December 31, 2021, 2020 and 2019, respectively (in thousands):

						2021						2020						2019
Balance at beginning of period						$	231,876					$	210,944					$	178,475
Additions during period						39,612						36,034						32,838
Dispositions during period						(4,816)						(15,102)						(369)
Balance at end of period						$	266,672					$	231,876		(1)			$	210,944		(2)

(1)The accumulated depreciation figure includes $3.4 million of real estate held for sale as of December 31, 2020.

(2)The accumulated depreciation figure includes $3.4 million of real estate held for sale as of December 31, 2019.

X

- References

No definition available.

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- Definition

The entire disclosure of real estate investments and associated accumulated depreciation for entities with a significant portion of their business acquiring and holding investment real estate.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 12
-Subsection 28

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 970
-SubTopic 360
-Section S99
-Paragraph 1
-Subparagraph (SX 210.12-28)
-URI http://asc.fasb.org/extlink&oid=120402810&loc=d3e638233-123024

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