FARMINGTON HILLS, MICH.—Farmington Hills-based Agree Realty Corporation has acquired two properties for a total of approximately $6 million. The first property, a newly constructed store, is currently leased to Dollar General Market in Cochran, Ga., which has a full term of 15 years remaining.
In addition to the new construction, Agree Realty also acquired the fee interest in the land underlying its Walgreens store in Ann Arbor.
"These acquisitions continue our strategy of deriving additional value from both within our existing portfolio as well as externally via the acquisition and development of assets leased to industry leading tenants," said Joey Agree, president and chief operating officer.
Agree Realty currently owns and operates a portfolio of 87 properties, located in 23 states and containing approximately 3.4 million sq. ft of gross leasable space.