FARMINGTON HILLS, MI /PRNewswire/ -- Agree Realty Corporation (NYSE: ADC) today announced it has acquired a retail property net leased to National Tire & Battery ("NTB") in Madison, Alabama.
NTB is owned by TBC Corporation, which is a subsidiary of Sumitomo Corporation of America. The cost of the acquisition was approximately $2,330,000. The newly constructed store opened for business in November 2011. The base term of the lease is 25 years.
Agree Realty is primarily engaged in the ownership, management, acquisition and development of single tenant properties leased to industry leading retail tenants.
Agree Realty owns and operates a portfolio of 88 properties, located in 21 states and containing approximately 3.6 million square feet of leasable space.
Contact:
Agree Realty Corporation
Hedley Williams, Chief Investment Officer, +1-248-737-4190
Web Site: http://www.agreerealty.com/
No comments:
Post a Comment