Agree Realty Announces Buffalo Wild Wings Redevelopment Project

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May 15, 2014, 04:01 ET

FARMINGTON HILLS, Mich., May 15, 2014 /PRNewswire/ -- Agree Realty Corporation (NYSE: ADC) today announced that it recently acquired a former TGI Friday's restaurant in St. Augustine, Florida that will be redeveloped for Buffalo Wild Wings. The project, which has been pre-leased to Buffalo Wild Wings under a 15-year agreement, is expected to be completed in the fourth quarter of 2014.

"We are excited to announce this redevelopment project. Buffalo Wild Wings is currently the third largest full service restaurant chain in the country, by annual sales, and is also one of the fastest growing," said Joey Agree, President and Chief Executive Officer. "This property will be our third Buffalo Wild Wings in the portfolio as we continue to focus on investing in high-quality assets in e-commerce resistant sectors."

Agree Realty is primarily engaged in the acquisition and development of properties net leased to industry-leading retail tenants. The Company currently owns and operates a portfolio of 140 properties, located in 34 states and containing approximately 3.8 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."

SOURCE Agree Realty Corporation