Ecke Ranch, the California-based poinsettia and annuals grower, announced the sale of its Encinitas, Calif. property to the Leichtag Foundation on April 6, 2012. The Encinitas property acted as the company’s research and development space, but Ecke has decided the facility would be more efficient on a smaller scale. The revenue from the sale will go toward funding growth and expansion projects in the future.
“This is a great business opportunity for Ecke Ranch and a positive benefit for the community. It is a true win-win and we couldn’t be happier,” the company writes in a press release. “This will honor the history of the Encinitas property and its role in the evolution of our business, and we are excited to begin the next era of our growth and innovation.”
The Leichtag Foundation, a Carlsbad, Calif.-based non-profit philanthropic organization, plans on using the space to bring about a long-term vision for the community.
“We want to use the space as a cultural platform of regional or national importance for generations to come,” President and Chief Executive Officer Jim Farley says. “We have ideas. We don’t have a plan at this time, but there is a long-term commitment. We will use the space to grow some of the cultural and arts programs.”
While the foundation’s vision will be implemented over a number of years, Farley hopes the Ecke family will remain involved.
“The family and business have been an incredible resource to the city and the region. I am hoping they will be involved as we move forward,” he says.