LAWTON – The software developer Camgian Corp. will lease additional space in the FISTA Innovation Park to accommodate the company’s expansion.
The FISTA Development Trust Authority voted unanimously March 5 to approve a five-year lease agreement with Camgian, pending funding availability, according to FISTA officials. The agreement allows Camgian to lease an additional 4,004 square feet of space in Phase 1 of the Innovation Park.
Base rent is $17 per square foot multiplied by the area of the leased premises, for a total of $68,068 in the first year of the lease, according to the agreement. Starting with the second year, the base rent rate will increase by 5% each year for the duration of the lease.
Camgian representatives signed the new lease during a Feb. 27 event in the Innovation Park lobby.
Camgian is planning to expand from a 750-square-foot office in the Innovation Park to approximately 8,000 square feet, Southwest Ledger reported in late February. The additional space will include room for a lab, which will help Camgian develop artificial intelligence-powered air and missile defense technology in Lawton.
Camgian, which is headquartered in Starkville, Mississippi, opened its Innovation Park office in the fall of 2021. The company was the first long-term tenant in the Innovation Park, located in Central Plaza.