Courtesy of Benzinga.
Agree Realty Corporation (NYSE: ADC) today announced that it has acquired a Big Lots store and a Dollar General Market. The 30,000 square foot Big Lots is in The Shoppes at Lakestone Commons shopping center adjacent to Kohl’s in Fuquay-Varina, North Carolina. The 20,834 square foot Dollar General Market is located on State Street in Lyons, Georgia. Both stores have recently opened for business. The aggregate cost of the acquisitions was approximately $5,300,000.
“We are extremely pleased to announce that with the acquisition of these two assets, our portfolio now exceeds 100 properties. Since the inception of our acquisition platform in April 2010, we have added 37 properties, in 13 retail sectors and 20 states, at a total cost of approximately $135,000,000,” said Joey Agree, President and Chief Operating Officer. “These two acquisitions of high-quality assets leased to investment grade tenants continues to diversify our portfolio by tenant, by retail sector as well as geographically.”
