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MANATEE COUNTY — Gladstone Land Corp., a Virginia-based real estate investment trust with a focus on farmland, acquired 417 acres in Manatee County for $3.2 million.
More than half the land, 271 acres, is designated for organic farming, according to a release. Plant City-based Wish Farms, which currently oversees a farming operation on the land, signed a 10-year lease with Gladstone in connection with the purchase. Gladstone, the release adds, has committed to provide additional capital for property improvements over the next year that would bring the total investment to around $4.5 million.
“We are privileged to expand our partnership with such an esteemed grower that is an industry leader in organic farming,” Gladstone Managing Director Bill Frisbie says in the release. “We now own 34 farms across the United States that produce a variety of high-value fruits and vegetables.”
Wish Farms, founded in 1922, is a year-round strawberry grower and a year-round supplier of blueberries and market vegetables.
“Wish Farms is excited to expand its partnership with Gladstone Land,” Wish Farms owner Gary Wishnatzki says in the statement. “Gladstone Land has strong roots in fruit and vegetable farming, making them a great resource for our real estate needs.”
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