Gladstone Land Acquires Farmland in Coastal California
MCLEAN, VA - Acquisitions must be in the air as yet another industry name has secured a new means for growing its portfolio. This time around, the company is Gladstone Land Corporation, and the real estate investor has announced that it acquired 368 acres of farmland in Ventura County, California.
"This acquisition adds to our portfolio of farms growing fresh produce in the heart of the Oxnard Plain," said David Gladstone, President and CEO. "We are also excited to form a relationship with a new tenant who has a long history of farming in Southern California."
According to a press release, the company secured the land for approximately $20.8 million, which equals roughly $56,522 per acre.
Gladstone Land has also assumed a lease with a large farming fresh veg operation situated on the site.
"We are excited to announce the addition of another quality farm in Ventura County," said Bill Reiman, Executive Vice President, West Coast Operations. "This acquisition is a fine example of our ability to continue adding valuable fresh produce farmland to our portfolio. We are gaining a prominent new tenant who has been in the fresh vegetable business for generations, and we look forward to further expanding our business with them in the future."
AndNowUKnow will continue to follow along as Gladstone and other investors make moves across the fresh produce industry, so be sure to keep checking back.