Gladstone Land Corporation Acquires Florida Farmland
MCLEAN, VA – Gladstone Land Corporation has acquired two farms in Dover, FL totaling 94 acres for $2.7 million dollars.
“We are pleased to add two more farms to our portfolio in Florida 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 (Real Estate) for the Company.
The properties have water on site and have been farmed for row crop vegetables and fruits for decades, according to a press release. The company has assumed two leases on the properties, each with three years left, with a mid-sized farming operation as the tenant.
“We now own 26 farms across the U.S. that produce a variety of high-value fruits and vegetables,” said Frisbie. The company currently owns 6,439 acres on those 26 farms in 5 different states across the U.S., according to the company's website.
This acquisition comes after Gladstone’s recent acquisition of a 145-acre farm in Watsonville, CA earlier this month. For more on that acquisition, click here.
