Gladstone Commercial GOOD has strengthened one of its Ohio assets with a new long-term lease at its office and R&D property in New Albany, OH. The company signed a 10-year, five-month lease with Ohio Life Sciences for 34,361 square feet in an 86,301-square-foot building, lifting the property to full occupancy. This is beneficial because a fully leased asset can support steadier rental income and reduce near-term vacancy risk.
Ohio Life Sciences represents nearly 5,000 life sciences establishments in the state and plans to use the space to support a biomanufacturing workforce initiative of up to $30 million. That program includes a training center with simulated labs and clean rooms, which fits well with the property’s office and R&D profile.
This lease also lines up with Gladstone Commercial’s broader focus on active portfolio management. At the end of the first quarter of 2026, the REIT owned 151 properties across 27 states, totaling about 17.7 million square feet. Its lease rate stood at 98.7%, still high, though slightly below 99.1% at the end of 2025.
GOOD’s operating data shows both strength and pressure. It collected 100% of cash rents in the first quarter and again in April. It also leased or renewed 805,622 square feet with five tenants during 2026. However, first-quarter total operating revenues fell 3.6% from the prior quarter, and core FFO declined 4.7% to $17.0 million, or 35 cents per share.
Overall, the New Albany lease is a positive update because it improves occupancy at a specific property and brings in a tenant tied to a growing life sciences ecosystem. Still, Gladstone Commercial offers stable rent collection, high occupancy and monthly distributions, but it also faces softer revenues and broader risks from inflation, interest rates and economic uncertainty.
Over the past six months, shares of this Zacks Rank #3 (Hold) company have gained 15.2% compared with the industry’s growth of 11.4%.
Stocks to Consider
Some better-ranked stocks from the industrial REIT sector are Prologis PLD and Stag Industrial STAG, each carrying a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
The Zacks Consensus Estimate for PLD’s 2026 FFO per share is pegged at $6.17, which indicates year-over-year growth of 6.2%.
The consensus estimate for Stag Industrial’s full-year FFO per share is pinned at $2.64, which calls for a 3.5% increase from the year-ago period.
Note: Anything related to earnings presented in this write-up represents funds from operations (FFO) — a widely used metric to gauge the performance of REITs.
7 Best Stocks for the Next 30 Days
Just released: Experts distill 7 elite stocks from the current list of 220 Zacks Rank #1 Strong Buys. They deem these tickers "Most Likely for Early Price Pops."
Since 1988, the full list has beaten the market more than 2X over with an average gain of +23.9% per year. So be sure to give these hand picked 7 your immediate attention. See them now >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Gladstone Commercial Corporation (GOOD): Free Stock Analysis Report
Prologis, Inc. (PLD): Free Stock Analysis Report
Stag Industrial, Inc. (STAG): Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).
Zacks Investment Research