Colorado Greenhouse and Ranch Go to Market in Ag-Sector Real Estate Sale

--A&G and Murray Wise Associates offer hydroponic growerSpring Born's fully automated, water-saving, high-production facility and 254-acre ranch near Silt and I-70.

SILT, Colo., Dec. 14, 2023 /PRNewswire/ -- A&G Real Estate Partners and Murray Wise Associates LLC are now accepting sealed-bid offers for Spring Born's fully automated, approximately 165,000-square-foot hydroponic growing operations and 254-acre ranch near Silt and I-70 in western Colorado.

The deadline for letters of intent is February 9.

"This newly constructed warehouse contains a fully automated, hydroponic growing system by Green Automation Group, allowing for the production of up to 10,000 retail units per day of pesticide- and ammonia-free leafy greens like lettuce and kale, as well as culinary herbs," noted Emilio Amendola, Co-President of A&G. "The ranch site itself boasts the right location, water rights and utility infrastructure to supply grocers across the state and region."

"Customers have raved about the taste, freshness, cleanliness and price of herbs and veggies automatically grown, cut and packaged at this facility," said Harrison Freeland, Vice President, Murray Wise Associates. "For agricultural companies, this sale represents an outstanding opportunity to ramp up production capacity and grow your business."

The hydroponic growing operation includes an automated greenhouse and a connected warehouse/processing facility, with in-place, turnkey support, shipping and distribution infrastructure.

Automatically planting new crops from seed, the trenched system uses conveyers to slowly advance products through the greenhouse, providing just the right sun exposure, water and temperature. "After four weeks, the system automatically cuts the products and packages them into the clamshell boxes you see at the store," Freeland said. "It is an impressive, highly efficient operation, entirely hands-free."

In addition to the existing facility, land on the 254-acre, County Road site has been cleared for a planned, approximately 130,000-square-foot greenhouse, with required utilities installed. "A wide array of growers, including producers of other crops grown indoors, could take advantage of this additional greenhouse site, along with the existing facility and the abundant acreage of the ranch itself," Freeland said.

The nearly four-acre Spring Born hydroponic facility, which earned USDA organic certification, opened in 2021 with $30 million in state and federal financing. The future owner/operator potentially could benefit from the Rural Jump-Start Tax Credit.

In addition, the new owner/operator potentially could benefit from certain other tax incentives provided by a water-saving state law. "The six production lines available in this sale are said to use 95 percent less water than would be required by a conventional system, with no runoff and all water recycled," Amendola noted.

Lettuce produced by Spring Born—which supplied local grocers as well as the national specialty chain Whole Foods Market—has a much-longer shelf life of up to 23 days, according to the company. "Taken together," Amendola said, "the existing facilities, the ranchland and the incentives and infrastructure available in this sale translate into a rare opportunity for agricultural users."

In its 11-year history, New York-based A&G has sold real estate and leases worth a total of more than $12 billion across all sectors of real estate, including agriculture. https://www.agrep.com/

MWA, which is headquartered in Champaign, IL and has a satellite office in Clarion, IA, is a leading national agricultural real estate auction and brokerage company. The company also provides management services for farmland assets. MWA was acquired by Farmland Partners Inc. (NYSE: FPI) in November 2021.

Additional information: www.murraywiseassociates.com or harrison@mwallc.com.

For due diligence and other property information, contact https://www.agrep.com/springborn or ckoulichkov@agrep.com.

This communication includes "forward-looking statements" within the meaning of the federal securities laws, including, without limitation, statements with respect to the outlook of Farmland Partners Inc. ("FPI") and Murray Wise Associates LLC ("MWA") and proposed and pending farmland auction, brokerage, financing and asset management activities. Forward-looking statements generally can be identified by the use of forward-looking terminology such as "may," "should," "could," "would," "predicts," "potential," "continue," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates" or similar expressions or their negatives, as well as statements in future tense. Although FPI and MWA believe that the expectations reflected in such forward-looking statements are based upon reasonable assumptions, beliefs and expectations, such forward-looking statements are not predictions of future events or guarantees of future performance and actual results could differ materially from those set forth in the forward-looking statements. Any forward-looking information presented herein is made only as of the date of this communication, and FPI and MWA do not undertake any obligation to update or revise any forward-looking information to reflect changes in assumptions, the occurrence of unanticipated events, or otherwise.

Press Contacts for A&G: Jaffe Communications: Elisa Krantz, (908) 789-0700, elisa@jaffecom.com.

From: Jaffe Communications, Cranford, N.J.
For: A&G Real Estate Partners, New York
Murray Wise Associates LLC, Champaign, IL

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SOURCE A&G Real Estate Partners