Agree Realty Announces Grocery Expansion at Ironwood Commons Center

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Mar 21, 2012, 04:02 ET

FARMINGTON HILLS, Mich., March 21, 2012 /PRNewswire/ -- Agree Realty Corporation (NYSE: ADC) today announced that it has finalized plans to expand Miner's Super One Foods at its Ironwood Commons shopping center located in Ironwood, Michigan.

Miner's Super One Foods will be expanded and renovated to 55,000 square feet from their current 35,000 square foot store. The project includes the elimination of in-line retail space, including Sears Hardware, to make way for the Miner's expansion. Miner's Inc. is one of the largest independently owned grocery store chains in the Midwest.

"We are extremely pleased to expand Miner's footprint, reduce small tenant exposure, and add value to the shopping center," said Joey Agree, President and Chief Operating Office of Agree Realty Corporation. "This project will bring the center to 100% occupancy and drive additional traffic to the asset."

Agree Realty is primarily engaged in the ownership, management, acquisition and development of single tenant properties leased to industry leading retail tenants. The Company currently owns and operates a portfolio of 90 properties, located in 22 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 on the Internet at http://www.agreerealty.com .

SOURCE Agree Realty Corporation