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California  + San Diego  + Industrial  | 
Realty Income & Plenty Team-Up for $1B of Indoor Farm Projects

Realty Income & Plenty Team-Up for $1B of Indoor Farm Projects

Realty Income Corporation, a San Diego-based REIT, has formed a strategic alliance with indoor vertical farm developer Plenty Unlimited to support the development of Plenty’s indoor farms. Realty Income will acquire and provide up to $1 billion in development funding for properties that will be leased to Plenty for development of the farms.

For the first transaction in the alliance, Realty Income has agreed to acquire the land and provide funding for Plenty’s indoor vertical farm in Richmond, VA. Plenty expects the future multi-farm campus to deliver more than 20 million pounds of produce annually. 

“We are pleased to announce this strategic relationship with Plenty, whose sustainable business practices align with Realty Income’s values,” said Realty Income CEO Sumit Roy. “Our entry into agriculture technology provides another potential growth opportunity for our company. Over time, we aspire to expand our collaboration with Plenty internationally in markets of mutual interest.”


Inside The Story

Realty Income CorporationPlenty Unlimited

About Mark Nieto

Mark comes to ConnectCRE with an extensive background as a business and news reporter in San Francisco radio, as well as 35 years as a traffic reporter on several stations including KGO, KNBR, KCBS and KFRC. As a business reporter, Mark covered the tech world in Silicon Valley where he became familiar with real estate transactions in the hot Bay Area marketplace. He attended San Jose State University with a BA in Radio and TV Broadcasting and currently resides in the Lake Tahoe area where he gets to frequently enjoy all of his favorite activities: Golfing, Fishing, Hiking and Skiing.