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Home > Company Index > Real Estate > REIT - Retail > Agree Realty Corporation

Agree Realty Corporation
NYSE: ADC
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 PROFILE
Agree Realty, a real estate investment trust (REIT), owns more than 40 retail properties in more than a dozen states, primarily Michigan. About 15 of the properties are neighborhood shopping centers which account for 65% of the company's total leasable space; the rest are free-standing buildings. The REIT leases its more than 3.5 million sq. ft. of property to merchants such as bookseller Borders and discount retailer Kmart (which leases nearly 40% of Agree Realty's space). Agree Realty also owns seven of its properties jointly with affiliates of Borders. Kmart, Borders, and Walgreen account for 63% of the company's revenues.

 COMPETITION
Glimcher Realty Trust (GRT)
Kimco Realty Corporation (KIM)
Ramco-Gershenson Properties Trust (RPT)

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 FINANCIAL OVERVIEW
Fiscal Year-End: December
2000 Sales (mil.): 24.30
1-Yr. Sales Growth: 11.0%
Employees: 7
Revenue per employee: $3,471,428.57

 KEY PEOPLE
• Richard Agree
    CEO
• Kenneth R. Howe
    CFO

 CONTACT INFO
31850 Northwestern Hwy.
Farmington Hills, MI 48334
US
Phone: 248-737-4190
Fax: 248-737-9110
Online: Web Site

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