Gladstone Land Corporation Acquires Potato Farm in Texas
Gladstone Land Corporation announced that it has acquired a 3,667-acre farm in Hartley County, Texas, for USD8.5m.
The farm includes over 2,200 irrigated acres growing primarily chip potatoes and is currently leased to CSS Farms, LLC, a national agribusiness company who is a market leader in chip, seed, and specialty potatoes.
“We have been seeking farms in Texas for some time now, and the right opportunity finally presented itself. This farm is in a prime growing location and has very good water, with 12 wells and 13 pivots on site. While the main crop grown on the farm is chip potatoes, the tenant also grows some corn and wheat in their regular rotation. We are really excited about our new partnership with CSS Farms and hope to expand on the relationship across the country,” said Bill Hughes, managing director of Gladstone Land.
“This acquisition allows us to continue to diversify and expand the number of properties we own, while continuing to maintain our focus on farms that have strong water sources and grow healthy foods, such as fresh produce like potatoes,” said David Gladstone, president and CEO of Gladstone Land.