Agree Realty Announces Public Offering of Common Stock

            Agree Realty Announces Public Offering of Common Stock

PR Newswire

FARMINGTON HILLS, Mich., Jan. 14, 2013

FARMINGTON HILLS, Mich., Jan. 14, 2013 /PRNewswire/ --Agree Realty
Corporation (NYSE: ADC) (the "Company") today announced the commencement of a
public offering of 1,300,000 shares of its common stock. The Company also
expects to grant the underwriters a 30-day option to purchase up to an
additional 195,000 shares of common stock to cover over-allotments, if any.

Raymond James will serve as sole book-running manager for the offering.

The Company intends to use the net proceeds of the offering to repay a portion
of the outstanding indebtedness under its $85 million credit facility, to fund
development activity and property acquisitions, and for other general
corporate purposes.

A registration statement relating to these securities has been declared
effective by the Securities and Exchange Commission. This press release does
not constitute an offer to sell or the solicitation of an offer to buy these
securities, nor will there be any sale of these securities in any state or
jurisdiction in which such offer, solicitation or sale would be unlawful prior
to registration or qualification under the securities laws of such state or
jurisdiction.

The offering of these securities will be made only by means of a prospectus
supplement and related base prospectus. Copies of the preliminary prospectus
supplement, final prospectus supplement (when available) and the related base
prospectus may be obtained by contacting (a) Raymond James, 880 Carillon
Parkway, St. Petersburg, Florida 33716 or by email at
prospectus@raymondjames.com; or (b) the Internet site of the Securities and
Exchange Commission at http://www.sec.gov.

Agree Realty Corporation 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."

The Company considers portions of the information contained in this release,
including the Company's planned securities offering and anticipated use of
proceeds, 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 D. Maximiuk, Chief Financial Officer, +1-248-737-4190