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Gladstone Land pays $33M for Coalinga, Calif., pistachio orchard

Gladstone Land Corp. acquired a pistachio orchard spanning about 1,000 gross acres in Coalinga, Calif., for $33 million.

The farmland real estate investment trust signed an eight-year, triple-net lease with RTS Agri Business and Canoas Creek Pistachios in connection with the transaction.