Plenty relinquishes option on 66-acre Virginia expansion site
Plenty has given up its option on a 66-acre, multi-parcel assemblage in Chesterfield County’s Meadowville Technology Park, reducing the land available for its previously envisioned Virginia campus expansion. The move comes about a year after the indoor-farming company exited bankruptcy and signals a smaller post-reorganization growth footprint, according to Richmond BizSense.
Plenty’s existing Chesterfield facility remained active this week. The company leases its operating property from Realty Income Properties under a partnership through which the real estate firm was expected to acquire Meadowville land over time. For restructuring professionals, the relinquished option is a concrete retrenchment from Plenty’s earlier campus ambitions without an announced shutdown of the operating farm—an important distinction when assessing post-emergence capital deployment and operating scale.