Gladstone Commercial Corporation (GOOD) has signed a new long-term lease with Ohio Life Sciences for 34,361 square feet at its office and R&D property in New Albany, OH. The 10-year, five-month lease, which brings the 86,301-square-foot building to full occupancy, reflects a growing demand in the life sciences sector.
Ohio Life Sciences, which encompasses nearly 5,000 establishments in Ohio, plans to use the space for a biomanufacturing workforce initiative valued at up to $30 million. This initiative will include a training center with simulated labs and clean rooms, aligning well with the property’s profile. At the end of Q1 2026, Gladstone Commercial owned 151 properties across 27 states, totaling approximately 17.7 million square feet, with a lease rate of 98.7%.
Despite maintaining high occupancy and collecting 100% of cash rents in early 2026, Gladstone reported a 3.6% decrease in total operating revenues and a 4.7% drop in core FFO, totaling $17.0 million or 35 cents per share, raising concerns about sustaining steady income amidst economic uncertainties.
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