Gladstone Commercial Corp. has acquired a 78,000 sq. ft. office building in Springfield, Mo. for $15.9 million in a single-tenant, net-lease deal brokered by the Stan Johnson Co. The call center was constructed in 2006 for T-Mobile Central LLC, a subsidiary of T-Mobile USA Inc.

The tenant has leased the property through 2021 and has three options to renew the lease for additional periods of five years each.

Gladstone, a publicly traded real estate investment trust that specializes in investing in and owning triple-net-leased industrial and commercial real estate properties, assumed an $11.6 million mortgage as part of the transaction.

Based in McLean, Va., Gladstone trades on the Nasdaq exchange under the stock symbol GOOD. As of March 31, the company owned 66 properties totaling 6.9 million sq. ft.

The 10-acre site that includes the call center for T-Mobile is located on the north side of Springfield in a 65-acre, mixed-use park near the Springfield International Airport. Broker Craig Tomlinson of the Stan Johnson Co. represented the buyer as well as the seller in the transaction, an individual investor.

“The main challenge of this transaction was completing the [loan] assumption process on a securitized loan,” says Tomlinson. “In a sense, it was really a three-way negotiation with buyer, seller and lender. The buyer is getting a long-term lease with a very high-quality asset and a tenant that leads its industry. The seller received a strong price and is able to redeploy his equity.”

Based in Tulsa, Okla., the Stan Johsnon Co. is a real estate brokerage firm that has more than 20 years of experience in the single-tenant, net-lease industry. The firm has completed more than $10 billion in transactions nationwide since its inception.

Gladstone’s stock price closed at $17.35 per share on Thursday, June 23, up from $15.89 a year ago.