Real Estate Firm, Wish Farms Strike Large Land Deal

Gladstone Land Corp. announced it has acquired 808 acres of land with 590 farmable acres and an onsite cooling-distribution facility in Manatee County, FL, for $13.8 million. The property is currently farmed for berries and vegetables by Wish Farms, a leading grower and marketer of fresh fruits and vegetables. In connection with the acquisition, Gladstone Land and Wish Farms have entered into a 10-year lease (with two 5-year renewal options) that allows the Gladstone to reset the rental amounts to current market rates.
“Wish Farms is excited to partner with Gladstone Land on a long-term basis for this property. This transaction frees up capital that we can deploy into our farming and marketing operations to continue growing our business,” said Gary Wishnatzki, owner of Wish Farms.