Gladstone Commercial executes 10-year lease extension at industrial property in Chalfont, PA

Global food & beverage tech leader renews long-term commitment in Bucks County

Chalfont, PA — Gladstone Commercial Corporation announced that it has executed a 10-year, 1-month lease extension with JBT Marel Corporation (JBT Marel) at its 67,200 s/f industrial building in Chalfont. JBT Marel is the successor entity following the recently closed acquisition of Marel hf. by John Bean Technologies Corporation (JBT).

JBT Marel designs, produces, and services products and systems for its customers as a leading global food and beverage technology solutions provider. It also provides automated guided vehicle systems with a wide variety of applications including manufacturing, warehousing and medical facilities.

“We are pleased to have executed another lease extension with JBT Marel as our full building tenant,” said Greg Yayac, senior vice president of Gladstone Commercial. “This is the third extension we’ve done with them since our original purchase, demonstrating their commitment to the space.”

“This is a mission-critical facility for a quality tenant, and we are pleased to continue to have JBT Marel as a tenant in our portfolio,” added Buzz Cooper, president of Gladstone Commercial.