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  <TITLE> Gladstone Commercial Corporation (Form: 8-K) </TITLE>
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  		UNITED STATES<BR>
  	SECURITIES AND EXCHANGE COMMISSION
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  	WASHINGTON, D.C. 20549
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  	FORM 8-K
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  	CURRENT REPORT
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  	Pursuant to Section&nbsp;13 or 15(d) of the Securities Exchange Act of 1934
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  	Date of Report (Date of Earliest Event Reported):
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  	&nbsp;
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  	August 31, 2006
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  	Gladstone Commercial Corporation
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  <BR>__________________________________________<BR>
  	(Exact name of registrant as specified in its charter)
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  	Maryland
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  	0-50363
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  	020681276
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  _____________________<BR>
  	(State or other jurisdiction
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  _____________<BR>
  	(Commission
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  ______________<BR>
  	(I.R.S. Employer
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  	of incorporation)
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  	File Number)
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  	Identification No.)
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  	&nbsp;&nbsp;
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  	1521 Westbranch Drive, Suite 200, McLean, Virginia
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  	22102
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  _________________________________<BR>
  	(Address of principal executive offices)
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  	&nbsp;
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  ___________<BR>
  	(Zip Code)
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  	Registrant&#146;s telephone number, including area code:
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  	&nbsp;
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  	703-287-5800
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  	Not Applicable
  <BR>______________________________________________<BR>
  	Former name or former address, if changed since last report
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  	&nbsp;
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  <!-- CoverPageRegistrant END --><P><FONT SIZE="2">
  Check the appropriate box below if the Form 8-K filing is intended to
  simultaneously satisfy the filing obligation of the registrant under any
  of the following provisions:</FONT>
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  <P><FONT SIZE="2">
  [&nbsp;&nbsp;]&nbsp;&nbsp;Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)<br>
  [&nbsp;&nbsp;]&nbsp;&nbsp;Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)<br>
  [&nbsp;&nbsp;]&nbsp;&nbsp;Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))<br>
  [&nbsp;&nbsp;]&nbsp;&nbsp;Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))<br>
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  <B>
  	Item 8.01 Other Events.
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  On September 1, 2006, Gladstone Commercial Corporation announced that its offer to amend the terms of all stock options currently outstanding (the "Options") under the Company's 2003 Equity Incentive Plan, as amended, to accelerate the expiration date of the Options to December 31, 2006 (the "Offer") has been accepted. The Offer was made to the executive officers and directors of the Company and the employees of the Company's external investment adviser, Gladstone Management Corporation, who hold stock options (the "Optionees"), and was conditional upon its acceptance by all of the Optionees. All Optionees accepted the Offer prior to its expiration on August 31, 2006. The Offer is more fully described in the Schedule TO and related documentation filed by the Company with the Securities and Exchange Commission on July 12, 2006.<br> <br>On July 12, 2006, the Company's Board of Directors accelerated in full the vesting of all outstanding Options. Following the acceptance of the Offer, all Options must be either exercised or terminated prior to December 31, 2006.<br><br>The Company intends to implement, effective January 1, 2007, the proposed Investment Advisory and Management Agreement between the Company and Gladstone Management Corporation and the Administration Agreement between the Company and Gladstone Administration, LLC, a wholly owned subsidiary of Gladstone Management Corporation, which was approved by the Company's stockholders on May 24, 2006.  <br>
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  	Item 9.01 Financial Statements and Exhibits.
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  (a) Not applicable.<br>(b) Not applicable.<br>(c) Not applicable.<br>(d) Exhibit 99.1 - Gladstone Commercial Corporation Press Release Dated as of September 1, 2006. <br>
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  	SIGNATURES
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  	Pursuant to the requirements of the Securities Exchange Act of 1934, the
  	registrant has duly caused this report to be signed on its behalf by the
  	undersigned hereunto duly authorized.
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  	Gladstone Commercial Corporation
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  	&nbsp;&nbsp;
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  <I>
  	September 1, 2006
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  	&nbsp;
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  <I>
  	By:
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  <I>
  	/s/ Harry Brill
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  	&nbsp;
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  <I>
  	Name: Harry Brill
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  <I>
  	Title: Chief Financial Officer
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  	Exhibit&nbsp;Index
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  	Exhibit No.
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  	Description
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  	99.1
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  	&nbsp;
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  Gladstone Commercial Corporation Press Release Dated as of September 1, 2006.
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metadata_documents: [{"type": "8-K", "sequence": "1", "filename": "htm_14757.htm", "description": "LIVE FILING", "secsgml_size_bytes": 11322}]
metadata_filer: {"company-data": {"conformed-name": "GLADSTONE COMMERCIAL CORP", "cik": "0001234006", "assigned-sic": "6519", "irs-number": "020681276", "state-of-incorporation": "MD", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "000-50363", "film-number": "061070128"}, "business-address": {"street1": "1521 WESTBRANCH DRIVE", "city": "MCLEAN", "state": "VA", "zip": "22102", "phone": "703-287-5800"}, "mail-address": {"street1": "1521 WESTBRANCH DRIVE", "city": "MCLEAN", "state": "VA", "zip": "22102"}}
text: Gladstone Commercial Corporation (Form: 8-K)
  UNITED STATES
  SECURITIES AND EXCHANGE COMMISSION
  WASHINGTON, D.C. 20549
  FORM 8-K
  CURRENT REPORT
  Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
  Date of Report (Date of Earliest Event Reported):
  August 31, 2006
  Gladstone Commercial Corporation
  __________________________________________
  (Exact name of registrant as specified in its charter)
  Maryland
  0-50363
  020681276
  _____________________
  (State or other jurisdiction
  _____________
  (Commission
  ______________
  (I.R.S. Employer
  of incorporation)
  File Number)
  Identification No.)
  1521 Westbranch Drive, Suite 200, McLean, Virginia
  22102
  _________________________________
  (Address of principal executive offices)
  ___________
  (Zip Code)
  Registrant's telephone number, including area code:
  703-287-5800
  Not Applicable
  ______________________________________________
  Former name or former address, if changed since last report
  Check the appropriate box below if the Form 8-K filing is intended to
  simultaneously satisfy the filing obligation of the registrant under any
  of the following provisions:
  [  ]  Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
  [  ]  Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
  [  ]  Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
  [  ]  Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
  Top of the Form
  Item 8.01 Other Events.
  On September 1, 2006, Gladstone Commercial Corporation announced that its offer to amend the terms of all stock options currently outstanding (the "Options") under the Company's 2003 Equity Incentive Plan, as amended, to accelerate the expiration date of the Options to December 31, 2006 (the "Offer") has been accepted. The Offer was made to the executive officers and directors of the Company and the employees of the Company's external investment adviser, Gladstone Management Corporation, who hold stock options (the "Optionees"), and was conditional upon its acceptance by all of the Optionees. All Optionees accepted the Offer prior to its expiration on August 31, 2006. The Offer is more fully described in the Schedule TO and related documentation filed by the Company with the Securities and Exchange Commission on July 12, 2006.
  On July 12, 2006, the Company's Board of Directors accelerated in full the vesting of all outstanding Options. Following the acceptance of the Offer, all Options must be either exercised or terminated prior to December 31, 2006.
  The Company intends to implement, effective January 1, 2007, the proposed Investment Advisory and Management Agreement between the Company and Gladstone Management Corporation and the Administration Agreement between the Company and Gladstone Administration, LLC, a wholly owned subsidiary of Gladstone Management Corporation, which was approved by the Company's stockholders on May 24, 2006.
  Item 9.01 Financial Statements and Exhibits.
  (a) Not applicable.
  (b) Not applicable.
  (c) Not applicable.
  (d) Exhibit 99.1 - Gladstone Commercial Corporation Press Release Dated as of September 1, 2006.
  Top of the Form
  SIGNATURES
  Pursuant to the requirements of the Securities Exchange Act of 1934, the
  	registrant has duly caused this report to be signed on its behalf by the
  	undersigned hereunto duly authorized.
  Gladstone Commercial Corporation
  September 1, 2006
  By:
  /s/ Harry Brill
  Name: Harry Brill
  Title: Chief Financial Officer
  Top of the Form
  Exhibit Index
  Exhibit No.
  Description
  99.1
  Gladstone Commercial Corporation Press Release Dated as of September 1, 2006.