McLean, Va-based Gladstone Land Corp. has acquired two farms totaling 94 acres in Dover, FL, for $2.7 million. The properties, which are in the heart of the state’s strawberry production region, have water on site and have been farmed for row crop fruits and vegetables for decades.
In connection with the acquisition, the company assumed two leases on the properties, each with three years remaining, with a mid-sized farming operation as the tenant.
“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.
With these acquisitions, Gladstone now owns 26 farms across the U.S. that produce a variety of high-value fruits and vegetables.