MCLEAN, VA – Gladstone Land Corporation has acquired a 65 acre strawberry farm in Ventura County, California for approximately $6.1 million.
"We are excited to add this trophy property to our portfolio and extend our partnership with a global leader in the berry business, who also farms some of our other properties," said Bill Reiman, Managing Director of the Company.
As we previously reported, Gladstone acquired two other farms in Ventura County with 332 farmable acres for $24.6 million last week.
"We have recently been able to take advantage of a number of great buying opportunities in Ventura County, an area that commands among the highest farmland rents in the country,” Reiman added. “The land in this region continues to experience steady appreciation and produce superior yields, even in times of severe drought or economic downturn. Our California farms have yet to feel any negative impact in value from the drought because we are careful to choose properties with superior water resources and tenants that properly manage those resources."
According to a press release, Gladstone currently owns 32 farms, made up of 8,039 acres in 5 different states valued at approximately $191 million. The majority of its acreage is used to grow row crops like berries and vegetables.
