Agree Realty Announces $11,600,000 In Acquisitions

              Agree Realty Announces $11,600,000 In Acquisitions

PR Newswire

FARMINGTON HILLS, Mich., Dec. 19, 2012

FARMINGTON HILLS, Mich., Dec. 19, 2012 /PRNewswire/ --Agree Realty
Corporation (NYSE: ADC) today announced that it has acquired a LA Fitness and
an AutoZone. The one-story, 42,625 square foot LA Fitness is located at the
corner of South Rand Road and West Deerpath Road in Lake Zurich, Illinois.
Nearby retailers include Wal-Mart, Costco, Home Depot, and Target. Median
household incomes in the trade area exceed $92,000. The recently opened LA
Fitness has 15 years remaining on the base term of the lease. Additionally,
the Company has also acquired its third AutoZone store, located on Clinton
Avenue in Minneapolis, Minnesota. AutoZone has approximately 11 years
remaining on the base term of the lease. The aggregate cost of the two
acquisitions was approximately $11,600,000.

"We are extremely pleased to add LA Fitness to our growing portfolio of
industry leading tenants. This location fulfills stringent site and
demographic criteria and is a great addition to our portfolio," said Joey
Agree, President and Chief Operating Officer. "The addition of our third
AutoZone continues to build out our auto partsexposure with another asset
leased to an investment grade retailer."

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 103 properties, located in 26
states and containing approximately 3.2 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

The Company considers portions of the information contained in this release to
be forward-looking statements within the meaning of Section 27A of the
Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934,
each as amended. These forward-looking statements represent the Company's
expectations, plans and beliefs concerning future events. Although these
forward-looking statements are based on good faith beliefs, reasonable
assumptions and the Company's best judgment reflecting current information,
certain factors could cause actual results to differ materially from such
forward–looking statements. Such factors are detailed from time to time in
reports filed or furnished by the Company with the Securities and Exchange
Commission, including the Company's Form 10-K for the year ended December 31,
2011. Except as required by law, the Company assumes no obligation to update
these forward–looking statements, even if new information becomes available in
the future.

SOURCE Agree Realty Corporation

Contact: Alan Maximiuk, Chief Financial Officer, +1-248-737-4190
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