Telehealth company offers direct-to-consumer treatments for hair loss, sexual wellness, mental health
By
Mark Heschmeyer
CoStar News
September 8, 2025
Hims & Hers Health signed a long-term lease for the warehouse at 9885 Innovation Campus Way in New Albany, Ohio, according to a regulatory filing by the telehealth firm. The 15-year deal represents one of central Ohio’s largest commercial transactions this year, CoStar data shows. The New Albany area has attracted several major corporate investments in recent years, including data centers and research operations. The 352,012-square-foot property sits in the New Albany Innovation Campus, a growing hub for technology and life sciences companies in Licking County. The county is the second-largest industrial market in greater Columbus, according to CoStar analysis. Net absorption, a measure of property demand, accelerated in the first quarter to 1.8 million square feet, the highest total in two years, as tenants moved to get ahead of tariff escalations.
Hims & Hers plans to use the space for office, research and development, laboratory, manufacturing and pharmaceutical dispensing operations, it said in its Securities & Exchange Commission filing. The San Francisco-based company competes in the telehealth sector, offering direct-to-consumer treatments for conditions including hair loss, sexual wellness and mental health. The new lease has two 5-year extension options. The deal includes significant rent concessions, according to the filing. The lease with an affiliate of real estate firm Vitrian carries an annual base rent of $5.98 million, or $498,684 monthly. The lease commenced Sept. 1 with rent payments scheduled to begin April 1,2026, with annual increases of 3.25%.
In addition to the base rent, Hims & Hers is responsible for all operating expenses, including insurance and real estate taxes. The company provided a $5.98 million letter of credit through JPMorgan Chase as security.
Completed in 2022, the property was originally home to AmplifyBio, a Central Ohio-based biopharmaceutical company that signed a 10-yearlease for the speculative building that year, according to CoStar data. However, the company shuttered its operations in April, saying the biotech market had seen a “significant shift” in recent years that led to scarce investor financing for early-stage biotech firms, according to local reports.