Agree Realty Announces $8,500,000 Acquisition

                Agree Realty Announces $8,500,000 Acquisition

PR Newswire

FARMINGTON HILLS, Mich., Jan. 30, 2013

FARMINGTON HILLS, Mich., Jan.30, 2013 /PRNewswire/ --Agree Realty
Corporation (NYSE: ADC) today announced that it has acquired Dick's Sporting
Goods and Petsmart in St. Joseph, Missouri. Dick's occupies 45,000 square
feet and Petsmart occupies 12,342 square feet. Retailers within the immediate
trade area include a Wal-Mart Supercenter, Target, Kohl's, Lowe's and Home
Depot. Both tenants have approximately nine-and-a-half years remaining on the
base term of their leases. The aggregate cost of the acquisitions was
approximately $8,500,000.

"We are pleased to add these assets to our growing portfolio. Petsmart and
Dick's are both first in class and are excellent additions to our roster of
industry leading net lease retailers," 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 110 properties, located in 28
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

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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