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MDH Partners has acquired a 138,670-square-foot industrial property in Danville, VA from AeroFarms for $19.1 million.

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.”


Inside The Story

AeroFarms' Rosenberg

About Lisa McDuffie

Lisa McDuffie arrives at ConnectCRE via REALTOR® world, where she served for nearly two decades as communications director for one of the nation’s largest REALTOR® organizations. She supported two membership-elected presidents who were commercial real estate practitioners, and managed the communications initiatives of the organization’s commercial special interest group. When not following the latest commercial real estate news, Lisa is zeroed in on her charismatic off-the-track thoroughbred as she makes the transition from an utterly failed racehorse to a lovely show hunter.

  • ◦Sale/Acquisition