Benzinga | Jul 7, 2021 04:17PM EDT

Gladstone Commercial Corporation Announces 12-Year Lease At Port Of Catoosa, OK Industrial Facility

Gladstone Commercial Corporation (NASDAQ:GOOD) ("Gladstone Commercial") announced it has entered into a 12.5 year lease for its entire 238,312 square foot, industrial facility, located at 1110 Tenkiller Road at The Tulsa Port of Catoosa, outside of Tulsa, Oklahoma. The property is leased to Lyseon North America, Inc., a wholly owned subsidiary of Topia Co., LTD.

Lyseon will use the industrial manufacturing plant in support of its contract with Navistar's subsidiary, IC Bus, which recently announced a 20-year commitment to Tulsa. The transaction continues the history of Topia's strong relationships with large global manufacturers.

"We are excited to have Lyseon in our portfolio. The real estate professionals at CBRE, Matt Klimisch and Alex Powell, who represented Gladstone Commercial on the deal, were instrumental to this success. I would also like to express my thanks to The Tulsa Port of Catoosa for their assistance on the deal. We could not have asked for better partners," said Perry Finney, Gladstone Commercial's Senior Vice President. Buzz Cooper, Gladstone Commercial's Executive Vice President, added, "We welcome Lyseon and Topia into our tenant roster and we appreciate the speed and efficiency in which they acted to execute the long-term deal."