Growing Three Platforms: ADC Likes Its Opportunities

BLOOMFIELD HILLS, MI—Earlier this month, Agree Realty Corp. said it had closed on the acquisition of 15 retail properties at a total purchase price of approximately $42.1 million. Located across 10 states, the properties are net leased to 12 different tenants, and include the net lease REIT’s first Bed Bath & Beyond, Old Navy and Dress Barn stores, as well as the first Wendy’s restaurants in the portfolio. Also acquired were properties net leased to Sherwin Williams, Family Dollar, Academy Sports + Outdoors and Jo-Ann Fabric and Crafts.

Joey Agree, the company’s president and CEO, said in a statement that the company is focused on “investing in properties net leased to leading retailers operating in e-commerce resistant sectors, and are on track to achieve our targeted 2015 acquisition volume of $175 million to $200 million.” That being said, acquisition opportunities are not the only reason that Agree and his company are bullish about their prospects. GlobeSt.com recently sat down with Agree to get his take on what this year holds in store across the multiple platforms ADC operates.