| Business Summary | | Agree
Realty
Corporation
is
a
self-administered,
self-managed
real
estate
investment
trust
that
develops,
acquires,
owns
and
operates
properties,
which
are
primarily
leased
to
major
national
and
regional
retail
companies
under
net
leases.
As
of
December
31,
2000,
the
Company
owned,
either
directly
or
through
interests
in
joint
ventures,
a
portfolio
of
45
properties
located
in
13
states
and
containing
an
aggregate
of
approximately
3.5
million
square
feet
of
gross
leasable
area.
During
2000
the
Company
completed
the
development
of
three
freestanding
Properties,
which
added
53,395
square
feet
of
gross
leasable
area
to
the
Company's
operating
portfolio.
Two
of
the
Properties
are
leased
to
Walgreen
and
one
Property
is
leased
to
Borders.
The
Properties
consist
of
14
neighborhood
and
community
shopping
centers
and
31
freestanding
properties.
The
Company
independently
owns
24
of
the
freestanding
properties
and
owns
the
other
seven
through
joint
ventures. | More
from
Market Guide: Expanded
Business Description |
| Financial Summary | | ADC
is
a
self-administered,
self-managed
real
estate
investment
trust
which
develops,
acquires,
owns
and
operates
properties
which
are
primarily
leased
to
major
national
and
regional
retail
companies
under
net
leases.
For
the
six
months
ended
6/30/01,
total
revenues
rose
6%
to
$12.3
million.
Net
income
rose
14%
to
$3.9
million.
Results
reflect
an
increase
in
the
basic
rental
segment
revenues.
Net
income
also
reflects
higher
operating
margins,
higher
real
estate
taxes
and
other
income. | More
from
Market Guide: Significant
Developments |
| | | | FY2000 Pay | |
| Richard Agree, 57 Chairman,
Pres | $244K | Kenneth Howe, 52 VP
of Fin. and Sec. | 175K | David Prueter, 45 VP | 187K | Bruce Schaefer, 57 VP
of Leasing | 167K | Dollar amounts are as of 31-Dec-2000 and compensation values are for the fiscal year ending on that date; "Pay" is salary, bonuses, etc.. |
| More
from
Market Guide on Officers & Directors: Expanded
List, Bios,
Compensation,
Options
|
|