Gladstone Land Corp. has acquired a 65-acre strawberry farm in Ventura County, Calif., for about $6.1 million.
McLean, Va.-based Gladstone Land also signed a three-year lease with an international grower it did not name.
The move follows the October acquisition in the same county of 332 berry and tomato production acres for $24.6 million. That property is leased to Sunrise Growers and farmed by Eclipse Berry Farms LLC.
“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,” Bill Reiman, managing director of Gladstone Land, said in a news release.
“The land in this region continues to experience steady appreciation and produce superior yields, even in times of severe drought or economic downturn,” Reiman said. “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.”
The company owns 32 farms, consisting of 8,039 acres in five states and valued at about $191 million.