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Stock Market & Financial Investment News

News Breaks
July 28, 2014
09:14 EDTLANDGladstone Land acquires farmland in CA for $5.8M
Gladstone Land announced that it has acquired 322 acres of vegetable farmland in Arvin, California, for $5.8M. Upon acquisition, the company assumed the in-place lease on the property, which expires in October 2015. Gladstone Land also entered into a nine-year, follow-on lease agreement with a new tenant, Underwood Ranches, the exclusive grower of red jalapeno peppers for Sriracha hot sauce. This follow-on lease commences in November 2015 and provides for annual rent escalations.
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