Agree Realty Appoints Joey Agree As Chief Executive Officer

         Agree Realty Appoints Joey Agree As Chief Executive Officer

PR Newswire

FARMINGTON HILLS, Mich., Jan. 8, 2013

FARMINGTON HILLS, Mich., Jan. 8, 2013 /PRNewswire/ --Agree Realty Corporation
(NYSE: ADC) today announced the appointment of Joey Agree as Chief Executive
Officer. In addition, Joey Agree will continue to serve as the Company's
President and as a member of the Company's Board of Directors.

"We are extremely pleased to name Joey Agree as our Chief Executive Officer of
the Company," said Richard Agree, Chairman of the Board. "Joey's leadership
has proven essential as the Company continues to grow and execute on its
strategy. Under his leadership as President and Chief Operating Officer, the
Company launched its successful acquisition platform and expanded its
development capabilities while maintaining a conservative balance sheet that
is well-positioned for the future. Both the Board of Directors as well as the
management team look forward to a seamless transition and welcome Joey as our
new Chief Executive Officer."

"It is an honor to lead Agree Realty into the next phase of the Company's
operating strategy," said Joey Agree. "While we have made significant
achievements and are poised for the future, we have ambitious goals of growing
and diversifying our single tenant net lease portfolio. I would like to thank
the Board of Directors, management and all of our stakeholders for their
strong and continued support."

Joey Agree succeeded Richard Agree as Chief Executive Officer, a position
Richard Agree had served since before the Company's initial public offering in
April 1994. Richard Agree will continue to serve as Executive Chairman of the
Board.

"On behalf of the Board of Directors, we want to thank Richard Agree for his
leadership and his many years of service as Chief Executive Officer. His
experience and knowledge have contributed greatly to the growth of the
Company. His foresight in recognizing the need for an orderly succession plan
was essential to the success of this transition," said Michael Rotchford,
Chairman of the Nominating and Governance Committee. "We are very pleased
that he will continue to serve as Executive Chairman of the Board."

About Joey Agree

Joey Agree previously served as the Company's President and Chief Operating
Officer and as a member of the Company's Board of Directors since June 2009.
From January 2006 until June 2009, Joey Agree served as the Company's
Executive Vice President, and from March 2005 until January 2006, Joey Agree
supervised the Company's development and acquisition activities. Before
joining the Company in March 2005, Joey Agree was employed by one of the
largest private developers in the Midwest, as director of land acquisitions.
He is a member of the State Bar of Michigan and the International Council of
Shopping Centers. Mr. Agree was named one of DBusiness magazine's "30 in Their
Thirties," one to watch in Real Estate Forum magazine's "40 under 40,″ and one
of Crain's Detroit Business "Forty under 40.″ Joey Agree is the son of Richard
Agree.

About Richard Agree

Richard Agree previously served as the Company's Chief Executive Officer and
Chairman of the Board of Directors since December 1993. Before joining the
Company, he worked as managing partner of the general partnerships that held
the Company's properties prior to its formation and initial public offering
and served as President of the Company's predecessor since 1971. Mr. Richard
Agree has managed and overseen the development of more than 5,000,000 square
feet of anchored shopping center space during the past 40 years. He is a
graduate of the Detroit College of Law, a member of the State Bar of Michigan
and the International Council of Shopping Centers. Richard Agree is the father
of Joey Agree.

About Agree Realty Corporation

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 109 properties, located in 27
states and containing approximately 3.3 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
www.agreerealty.com.

Forward-Looking Statements

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

Website: http://www.agreerealty.com
Contact: Alan Maximiuk, Chief Financial Officer, +1-248-737-4190
 
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