Agree Realty Announces Sale of Michigan Walgreens

              Agree Realty Announces Sale of Michigan Walgreens

PR Newswire

FARMINGTON HILLS, Mich., Jan. 17, 2013

FARMINGTON HILLS, Mich., Jan. 17, 2013 /PRNewswire/ --Agree Realty
Corporation (NYSE: ADC) today announced that it has closed on the sale of the
Walgreens on Michigan Avenue in Ypsilanti, Michigan. The 13,650 square foot
store was developed by the Company in 2008. The property was sold for
approximately $5,600,000.

"We are pleased to complete the sale of this property. We are consistently
reviewing asset performance and portfolio composition and intend to
accretively redeploy these proceeds into our acquisition and development
pipelines," said Joey Agree, President and Chief Executive Officer.

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 108 properties, located in 27
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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