Company: LANDO
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001495240-25-000021
Chunk: 121

Company: GLADSTONE LAND Corp
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 8
Chunk 121
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4.0%66,3205.6%1,138 2.8%Colorado1232,77331.8%1,040 3.6%1232,77329.3%1,322 3.2%Oregon68980.9%841 2.9%68980.8%1,133 2.7%Michigan121,2451.2%551 1.9%97,7827.0%314 0.8%Nebraska75,2235.1%644 2.2%231,8921.7%495 1.2%Texas13,6673.6%265 0.9%13,6673.3%225 0.5%Maryland69871.0%241 0.8%69870.9%230 0.6%South Carolina35970.6%122 0.4%35970.5%122 0.3%Georgia22300.2%112 0.4%22300.2%112 0.3%New Jersey31160.1%68 0.2%31160.1%66 0.2%Delaware11800.2%39 0.2%11800.2%38 0.1%North Carolina23100.3%— —%23100.3%84 0.2%TOTALS150103,001100.0%$29,098 100.0%168111,836100.0%$41,096 100.0%

(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 rents, (ii) fixed base cash rents, plus a variable component, referred to as “participation rents,”