Gladstone Commercial signs 10-year lease in New Albany
Gladstone Commercial Corporation leased 34,361 square feet to the Ohio Life Sciences Association for a 10-year, 5-month term in New Albany, Ohio. The lease brings the 86,301 square foot office and R&D building to full occupancy. The tenant will use the space for a training center supporting a $30 million biomanufacturing workforce initiative.
*this image is generated using AI for illustrative purposes only.
Gladstone Commercial Corporation has executed a 10-year, 5-month lease with the Ohio Life Sciences Association for 34,361 square feet of its office and R&D property in New Albany, Ohio. The agreement brings the 86,301 square foot building to 100% occupancy, marking a strategic deployment of capital into the company's portfolio. The lease supports the tenant's $30 million biomanufacturing workforce initiative announced in September 2025.
The Ohio Life Sciences Association is a statewide business group representing nearly 5,000 life sciences establishments. The leased space will facilitate the development of a training center featuring simulated laboratories and clean rooms. This initiative aims to provide hands-on skills training for pharmaceutical biomanufacturing careers.
Lease Details
The transaction involves the following key figures:
| Metric | Value |
|---|---|
| Lease Term | 10 years, 5 months |
| Leased Area | 34,361 square feet |
| Total Building Area | 86,301 square feet |
| Occupancy Status | 100% |
Judy Carter, Senior Vice President for asset management in the Midwest Region at Gladstone Commercial, highlighted the impact of the new training center. Ryan Carter, Executive Vice President for the Midwest and Western Regions, noted that the lease exemplifies the company's strategy to deploy accretive capital. Weston Devore of CBRE facilitated the transaction.
Company Overview
Gladstone Commercial is a real estate investment trust focused on net leased industrial and office properties. As of March 31, 2026, the company's portfolio comprised 151 properties across 27 states, totaling approximately 17.7 million square feet.
How will this 100% occupancy achievement influence Gladstone Commercial's future capital deployment strategies in the Midwest?
What impact will the Ohio Life Sciences Association's $30 million workforce initiative have on long-term demand for specialized real estate in the region?
Could the success of this training center model drive similar leasing demand for R&D facilities with specialized infrastructure in other markets?
20
Access Market Heat-map & Insights 
Create, Save & Share your Screener 
Use 200+ Screening Filters 
