Gladstone Land acquires citrus groves in South Florida for ~$5.2M

• Gladstone Land (NASDAQ:LAND) acquired two lemon and orange groves totaling 617 acres in South Florida for ~$5.2M.
• In connection with the acquisition, Gladstone signed a 12-year leaseback agreement with the seller.
• "We are continuing to target the highest quality farms with secure sources of water. However, our greatest strength is that the growers we partner with are dedicated to cultivating the best produce and preserving resources," said Gladstone President and CEO David Gladstone.