Agree Realty (ADC) Announces St. Joseph, MO, Acquisitions Valued at $8.5M
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Agree Realty Corporation (NYSE: ADC) today announced that it has acquired Dick's Sporting Goods (NYSE: DKS) and Petsmart (Nasdaq: PETM) 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.
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