Gladstone Commercial Achieves 100% Occupancy with 10-Year Lease of 34,361 Sq Ft
GOOD•Gladstone Commercial executed a 10-year, 5-month lease with Ohio Life Sciences for 34,361 sq ft of its 86,301 sq ft office/R&D building in New Albany, Ohio, bringing the asset to full occupancy. The lease supports Ohio Life Sciences’ up-to-$30 million biomanufacturing workforce initiative featuring simulated labs and clean rooms.
1. Lease Execution and Terms
Gladstone Commercial executed a 10-year, 5-month lease with Ohio Life Sciences covering 34,361 square feet of its 86,301 square foot office/R&D building in New Albany, Ohio. The agreement secures occupancy through December 2036 and marks the largest single-tenant commitment for the property.
2. Impact on Portfolio Occupancy
The new lease brings the New Albany asset to 100% occupancy, reflecting Gladstone Commercial’s strategic deployment of accretive capital into high-demand markets. Achieving full occupancy enhances the company’s net operating income and stabilizes cash flow for the property.
3. Support for Workforce Development
Ohio Life Sciences will use the leased space to deliver an up-to-$30 million biomanufacturing workforce initiative announced in September 2025. The program includes a state-of-the-art training center with simulated laboratories and clean rooms to provide hands-on skills training for pharmaceutical biomanufacturing roles.
