Lockheed Martin Signs $77M Industrial Lease With RRAD In Texarkana

The Industrial property located at 253 Oak Street in Texarkana has been leased in a transaction involving Lockheed Martin and RRAD. The property spans 220,000 square feet and serves as a workspace for Lockheed Martin, a renowned defense and aerospace company. The lease agreement, which commenced in 2020, is valued at $77 million and extends until 2024.

Summary of Transaction Details

• Property Type: Industrial
• Transaction Amount: $77 million
• Tenant: Lockheed Martin – Marillyn Hewson
• Landlord: RRAD
• Address: 253 Oak Street
• Market: Texarkana
• Square footage: 220,000

Lockheed Martin, represented by Marillyn Hewson, has entered into a lease agreement with RRAD for the industrial property at 253 Oak Street. The contract, valued at $77 million, has a duration that spans from 2020 to 2024. This agreement between the tenant and landlord emphasizes the strategic partnership between Lockheed Martin and RRAD in the Texarkana market.