Agree Realty Announces Lease Renewals Totaling 130,000 Square Feet

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Jan 04, 2010, 04:56 ET

FARMINGTON HILLS, Mich., Jan. 4 /PRNewswire-FirstCall/ -- Agree Realty Corporation (NYSE: ADC) today announced it has renewed several leases totaling approximately 130,000 square feet of retail space. Two leases were renewed with Roundy's, a regional supermarket chain and a subsidiary of Jondex Corporation. Located in Plymouth & Shawano, Wisconsin, each store exercised a five-year option commencing January 1, 2011. Five leases were also renewed with Dollar Tree, a national leader among dollar store chains.

"Our asset management team is focused on maintaining occupancy and extending leases with reliable retail tenants that cater to the core consumer," said Joey Agree, President of Agree Realty. "We are extremely pleased that our portfolio remains 98% occupied."

Agree Realty is engaged in the ownership, management and development of properties which are primarily single tenant properties leased to major retail tenants and neighborhood community shopping centers. Agree Realty owns and operates a portfolio of 73 properties, located in 16 states and containing 3.5 million square feet of leasable space. For more information, visit www.agreerealty.com.

SOURCE Agree Realty Corporation