Agree Realty Announces $6,400,000 In Acquisitions
Agree Realty Corporation (NYSE: ADC) announced that it has acquired three single tenant assets leased to industry leading retailers. The acquisitions include a Dollar General Market in Statham, Georgia, an AutoZone in North Las Vegas, Nevada and a Family Dollar in Memphis, Tennessee. Dollar General Market occupies 20,707 square feet, AutoZone occupies 6,000 square feet and Family Dollar occupies 8,320 square feet. The aggregate cost of the acquisitions was approximately $6,400,000. All three retailers carry an investment grade rating. The weighted average lease term remaining for the three tenants is approximately 13 years.
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 113 properties, located in 30 states and containing approximately 3.3 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.