Gladstone purchases CA vegetable farm

|About: Gladstone Land (LAND)|By:, SA News Editor

The 322 acres of vegetable farmland in Arvin, CA was purchased for $5.8M, and Gladstone Land (LAND) has subsequently signed a 9-year lease with Underwood Ranches - the exclusive grower of red jalapenos for Sriracha hot sauce.

It's Gladstone's first purchase in the southern San Joaquin Valley.