Gladstone Land Corp. acquired approximately 108,000 ft2 of cold storage and supporting facilities in Stockton, Calif. The facilities primarily are used for the cooling and storage of fresh organic and conventional blueberries.
In connection with the acquisition, Gladstone Land entered into a 10-year lease agreement with the seller, who is an existing tenant of the company. Joseph Van Wingerden of Gladstone Land said, “Blueberries need to be cooled very quickly after being harvested in order to preserve their quality. We are excited to continue our role as capital partners for our growers and expand our portfolio of both farmland and farm-related facilities in the fresh fruit and produce space.”