Agree Realty Announces Acquisition of Advance Auto Parts in Marietta, Georgia

Agree Realty Corporation ADC today announced it has acquired a retail property net leased to Advance Auto Parts in Marietta, Georgia. The cost of the acquisition was approximately $1,335,000. The store opened for business in April 2011. The base term of the lease is 15 years. "We are pleased to add Advance Auto Parts to our portfolio of net leased assets," said Joey Agree, President and Chief Operating Officer of Agree Realty Corporation. "This acquisition continues to diversify our holdings and adds another national retailer to our growing net lease portfolio." Agree Realty is engaged in the ownership, management and development of properties which are primarily single tenant properties leased to major retail tenants and neighborhood community shopping centers. Agree Realty owns and operates a portfolio of 81 properties, located in 17 states and containing 3.5 million square feet of leasable space.