Agree Realty Announces $6,000,000 in Acquisitions

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Aug 22, 2013, 08:00 ET

FARMINGTON HILLS, Mich., Aug. 22, 2013 /PRNewswire/ -- Agree Realty Corporation (NYSE: ADC) today announced that it has acquired four single tenant assets leased to industry leading retailers. Two of the acquired properties, located in Madisonville, Texas and Forest, Mississippi, are leased to Tractor Supply Company. The Company has also acquired a Mattress Firm in Baton Rouge, Louisiana as well as an AutoZone in Sun Valley, Nevada. The average lease term is approximately ten years. The aggregate purchase price for the four acquisitions was approximately $6,000,000.

Agree Realty is primarily engaged in the acquisition and development of single tenant properties net leased to industry leading retail tenants. The Company currently owns and operates a portfolio of 124 properties, located in 33 states and containing approximately 3.6 million square feet of gross leasable space. The common stock of Agree Realty Corporation is listed on the New York Stock Exchange under the symbol "ADC".

For additional information, visit the Company's home page at www.agreerealty.com.

SOURCE Agree Realty Corporation