US Company Gladstone Land Corporation announced that it has acquired approximately 230 gross acres of farmland, including 175 acres of blueberry bushes and a fresh packing and shipping facility, located near Homerville, Georgia, for approximately $2.9 million. In connection with the acquisition, Gladstone Land entered into a 15-year lease agreement with a regional farmer who is part of a national berry marketing group.
"We are very excited to make our first acquisition in Georgia, which plays an integral role in supplying fresh blueberries across the eastern U.S. in the late spring and summer months," said Bill Frisbie, Executive Vice President for Gladstone Land. "We look forward to expanding in Georgia with additional fruit and vegetable farmland purchases."
"High-quality farmland with access to plentiful water is becoming increasingly scarce," said David Gladstone, President and CEO of Gladstone Land. "We are pleased to continue our mission of securing the most productive farmland for our grower-partners, especially as we see rising inflation beginning to have a significant impact of the price of farmland and produce across the country."
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