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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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  	November 13, 2007
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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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  	&nbsp;
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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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  	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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  	Item 1.01 Entry into a Material Definitive Agreement.
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  On November 13, 2007, Gladstone Commercial Corporation, through its wholly-owned subsidiary, Gladstone Commercial Limited Partnership, exercised an option under its existing credit agreement with KeyBank National Association to increase the current maximum availability under the credit agreement from $75 million to $95 million through the execution of an Accordian Agreement. The credit agreement was originally established on December 29, 2006.  <br><br>A copy of the Accordian Agreement is filed herewith as Exhibit 10.1.<br>
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  	Item 9.01 Financial Statements and Exhibits.
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  (d) 	Exhibit 10.1 &#x2013; Accordian Agreement by and among Gladstone Commercial Corporation, Gladstone Commercial Limited Partnership, KeyBank National Associaton, and certain other parties, dated as of November 13, 2007.
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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>
  	November 16, 2007
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  	&nbsp;
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  	By:
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  <I>
  	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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  	10.1
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  	&nbsp;
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  Accordian Agreement by and among Gladstone Commercial Corporation, Gladstone Commercial Limited Partnership, KeyBank National Associaton, and certain other parties, dated as of November 13, 2007
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metadata_documents: [{"type": "8-K", "sequence": "1", "filename": "htm_23920.htm", "description": "LIVE FILING", "secsgml_size_bytes": 10567}]
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": "001-33097", "film-number": "071251560"}, "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):
  November 13, 2007
  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 1.01 Entry into a Material Definitive Agreement.
  On November 13, 2007, Gladstone Commercial Corporation, through its wholly-owned subsidiary, Gladstone Commercial Limited Partnership, exercised an option under its existing credit agreement with KeyBank National Association to increase the current maximum availability under the credit agreement from $75 million to $95 million through the execution of an Accordian Agreement. The credit agreement was originally established on December 29, 2006.
  A copy of the Accordian Agreement is filed herewith as Exhibit 10.1.
  Item 9.01 Financial Statements and Exhibits.
  (d) 	Exhibit 10.1 – Accordian Agreement by and among Gladstone Commercial Corporation, Gladstone Commercial Limited Partnership, KeyBank National Associaton, and certain other parties, dated as of November 13, 2007.
  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
  November 16, 2007
  By:
  Harry Brill
  Name: Harry Brill
  Title: Chief Financial Officer
  Top of the Form
  Exhibit Index
  Exhibit No.
  Description
  10.1
  Accordian Agreement by and among Gladstone Commercial Corporation, Gladstone Commercial Limited Partnership, KeyBank National Associaton, and certain other parties, dated as of November 13, 2007