Gladstone Land Corp. has acquired a 145-acre row crop fruit and vegetable farm in Watsonville, Calif., for $5.9 million.
McLean, Va.-based Gladstone assumed a lease on the property with 28 months remaining. The company did not name the grower tenant or seller.
“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,” Bill Reiman, managing director, said in a news release.
Gladstone Land now owns 24 fruit and vegetable farms in five states. They amount to 6,345 acres, with an aggregate value of about $129 million.
The acquisition followed another, in early June, of two blueberry farms in Oregon totaling 200 acres for $2.6 million. The Columbia County properties have 157 farmable acres.