MCLEAN, VA – Gladstone Land Corporation has acquired a 145-acre farm in Watsonville, California for $5.9 million. 

"We are pleased to add another first-rate farm in California to our portfolio and partner with the existing farmers on a long-term basis. Our objective is to be a strategic real estate partner for farmers so they can secure their land for the long haul," said Bill Frisbie, Director at the Company. "We now own 24 farms across the U.S. that produce a variety of high-value fruits and vegetables."

The property has been farmed for row crop fruits and vegetables for decades and comes with water on site, according to a press release. 

"We are excited when an opportunity arises to add prime strawberry land to our existing farmland in the Watsonville region, and we will always maximize our efforts in attempting to complete such deals.  We have great relationships with growers here, and we will always do what we can to provide our services to them in order to support a healthy industry," said Bill Reiman, Managing Director at the Company.

Gladstone Land invests in farmland located in major agricultural markets in the United States that it leases to corporate and independent farmers.  The Company currently owns 6,345 acres on 24 farms in 5 different states across the U.S., according to its website.

Through this acquisition, Gladstone has assumed a lease on the property with 28 months remaining with a large farming operation as the tenant.

Gladstone Land Corporation