LAND

Gladstone Land Corporation is an agricultural real estate investment trust (REIT). The Company is engaged in the business of owning and leasing farmland. The Company also owns various farm-related facilities, such as cooling facilities, buildings utilized for the storage and assembly of boxes for shipping produce (box barns), packinghouses, processing facilities and various storage facilities. The Company’s farm consists of 600 tillable acres rotated between popcorn, edible beans, and potatoes and is irrigated with three on-site wells and electrical panels. The Company is engaged in leasing its farms and farm-related facilities to independent or corporate farming operations. The Company owns over 103 farms, including 87,000 total acres across ten states in the United States (Arizona, California, Colorado, Florida, Michigan, Nebraska and Oregon). The Company's farms and facilities were leased to different, unrelated tenants that are either independent or corporate farming operations.