AeroFarms sells its Cane Creek property
Property sold to MDH Partners, leased back to AeroFarms
AeroFarms has sold its 138,670-square-foot property in Cane Creek Centre to MDH Partners and leased it back for 20 years, the companies announced June 1.
MDH Partners bought the property at 1526 Cane Creek Parkway for $19.1 million and leased it back to AeroFarms. The industrial park where AeroFarms is located is jointly owned by Danville and Pittsylvania County.
The indoor agriculture company recently opened its Southern Virginia facility and has been growing short-stemmed leafy greens, herbs and microgreens and will process them for shipping to retail outlets and restaurants within 250 to 300 miles.
With this purchase, MDH Partners has grown its footprint to more than 650,000 square feet of property in Virginia and has acquired more than 6 million square feet of property throughout the U.S. since last January, according to the company.
MDH also owns a 237,861-square-foot property in Ashland and a 284,580-square-foot property in Suffolk.