This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Agree Realty Announces Recent Acquisition And Disposition Activity

FARMINGTON HILLS, Mich., Feb. 20, 2014 /PRNewswire/ -- Agree Realty Corporation (NYSE: ADC) today announced that it has recently acquired two net lease properties for an aggregate purchase price of approximately $6,530,000 and sold the Ironwood Commons shopping center for approximately $5,000,000.

Recent acquisitions include:
  • A 43,000 square foot property located in Anderson, South Carolina and leased to PetSmart and Michaels.  Adjacent retailers include Target and Lowe's.
  • An 8,500 square foot property in Tulsa, Oklahoma leased to Sherwin-Williams which represents the introduction of this investment grade retailer to the Company's portfolio.

Ironwood Commons is a 192,018 square foot shopping center located in Ironwood, Michigan that is anchored by Kmart and Miner's Super One Foods.

"We are pleased to have completed the sale of Ironwood Commons, a non-core asset, and redeployment of the proceeds into the acquisition of assets net leased to industry leading retailers," said Joey Agree, President and Chief Executive Officer.  "We continue to diversify our holdings while improving asset quality through selective acquisitions and dispositions."

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 134 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
Copyright 2011 PR Newswire. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

DOW 17,730.11 -27.80 -0.16%
S&P 500 2,076.78 -0.64 -0.03%
NASDAQ 5,009.2140 -3.9090 -0.08%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs