David Gladstone stepped down as chief executive officer of Gladstone Commercial Corporation effective March 20, 2026, and Arthur Cooper, who has served as president since 2022 and joined the company in 2001, was named the new CEO. Gladstone will remain chairman of the board, a member of the investment committee, and chairman, CEO, and president of the affiliated investment adviser, Gladstone Management Corporation.
The announcement also named John Sateri as chief investment officer and promoted Gary Gerson and Ryan Carter to executive vice presidents, expanding the leadership team that will guide the company’s investment and operational strategy.
Gladstone Commercial continues its shift from office to industrial real estate, with industrial properties now representing 69 % of its assets as of December 31 2025, up from 67 % at June 30 2025 and 63 % at December 31 2024. The move is part of a broader strategy to recycle capital, deleverage the balance sheet, and sustain dividend payments.
Cooper said, "As I take on this new additional role as the Company's CEO, I am grateful for David's mentorship and friendship of over forty years. We have an extremely talented team, and I am excited to continue building on our strong foundation and growth with the elevation of Gary Gerson and Ryan Carter to their new additional roles as Executive Vice Presidents." Gladstone added, "Gladstone Commercial is our first Gladstone REIT established in 2003."
The leadership transition is intended to preserve continuity while positioning the company for continued industrial expansion. With a history of monthly dividend payments and a high payout ratio, the company’s focus on capital recycling and deleveraging aims to strengthen its balance sheet and support long‑term shareholder returns.
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