AeroFarms Harvests $19M for Indoor Vertical Farming Industrial Facility in Danville
Atlanta, GA-based MDH Partners has completed the $19.1-million purchase of a 138,670-square-foot industrial property in Danville, VA. Seller AeroFarms, a corporation engaged in indoor vertical farming, simultaneously leased back the property under a net lease with an initial term of 20 years.
The acquisition increases MDH Partners’ industrial footprint in VA to more than 650,000 square feet.
The property at 1526 Cane Creek Parkway in Danville is two miles north of an access point to U.S. Highway 58 and less than five miles east of U.S. Highway 29 with access to approximately 50 million people and over 1,000 retailers within a day’s drive.
“AeroFarms has created the world’s largest indoor vertical farm of its kind using our Model 5 growing technology for unprecedented productivity,” said David Rosenberg, co-founder and CEO of AeroFarms. “Our commercial transaction for the property with MDH Partners is an example of how to scale long-term in a capital-efficient manner.”
- ◦Sale/Acquisition
