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News Breaks | | | | January 10, 2013 | | 08:41 EDT |  | ADC | Agree Realty acquires portfolio of Applebee's restaurants
Agree Realty announced that it has acquired a portfolio of four Applebee's restaurants as well as an Advance Auto Parts in late December 2012. The aggregate cost of the acquisitions was approximately $10.1M. Acquisition activity for 2012 totaled approximately 400,000 square feet, in 15 states, spanning 13 retail sectors with an average lease term of 14.5 years. Approximately 68% of the annualized base rents for these 2012 acquisitions are from investment grade retailers. | |
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News For ADC From The Last 14 Days Check below for free stories on ADC the last two weeks. |
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| May 16, 2013 | | 16:06 EDT | | ADC | Agree Realty announces Joint Venture
Agree Realty announced that it closed on a 4.2 acre parcel of land in conjunction with Real Estate Affiliates as part of its Joint Venture Capital Solutions program. The joint venture will be developing a single tenant Hobby Lobby store in Grand Forks, North Dakota. Hobby Lobby has executed a 15 year lease to occupy 55,000 square feet. Agree provided the necessary capital and will be the sole owner of the property upon project completion. | | | May 15, 2013 | | 16:06 EDT | | ADC | Agree Realty acquires two single tenant assets for approximately $5.4M
Agree Realty announced that it has acquired two single tenant assets leased to Petsmart and Starbucks. Petsmart occupies 20,353 square feet on Disk Road in Rapid City, South Dakota, adjacent to Kohl's. Starbucks occupies 1,562 square feet in Manchester, Connecticut. The aggregate purchase price of the acquisitions was approximately $5.4M. | |
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