Company: LANDO
Filing Date: 2025-05-12
Form Type: 10-Q
Source: 0001495240-25-000012
Chunk: 108

Company: GLADSTONE LAND Corp
Filing Date: 2025-05-12
Form: 10-Q
Item: Part I, Item 8
Chunk 108
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089 6.5%62,5202.2%1,062 5.3%Colorado1232,77331.8%667 4.0%1232,77329.3%661 3.3%Arizona66,3206.1%579 3.5%66,3205.6%569 2.9%Oregon68980.9%422 2.5%68980.8%566 2.8%Nebraska75,2235.1%289 1.7%97,7827.0%25 0.1%Michigan121,2451.2%276 1.6%231,8921.7%240 1.2%Texas13,6673.6%125 0.8%13,6673.3%112 0.6%Maryland69871.0%120 0.7%69870.9%115 0.6%South Carolina35970.6%61 0.4%35970.5%61 0.3%Georgia22300.2%56 0.3%22300.2%56 0.3%New Jersey31160.1%34 0.2%31160.1%32 0.2%Delaware11800.2%20 0.1%11800.2%19 0.1%North Carolina23100.3%— —%23100.3%42 0.2%TOTALS150103,001100.0%$16,803 100.0%168111,836100.0%$19,826 100.0%

(1)According to the California Chapter of the American Society of Farm Managers and Rural Appraisers, there are eight distinct growing regions within California; our farms are spread across six of these growing regions.

Leases

General

Most of our leases are on a triple-net basis, an arrangement under which, in addition to rent, the tenant is required to pay the related taxes, insurance costs, maintenance, and other operating costs.  Our leases generally have original terms ranging from 3 to 10 years for farms growing row crops and 7 to 15 years for farms growing permanent crops (in each case, often with options to extend the lease further).  Our lease agreements will generally include one of the following rental structures: (i) fixed base cash