Business Summary
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Agree Realty Corporation is a self-administered and self-managed real estate investment trust (REIT). The Company’s operations are conducted through, directly or indirectly, Agree Limited Partnership (Operating Partnership), of which the Company is the sole general partner, and in which it held a 95.93% interest as of December 31, 2009. The Company is focused primarily on the ownership, development, acquisition and management of retail properties net leased to national tenants. It specializes in developing retail properties for national tenants who have executed long-term net leases prior to the commencement of construction. At December 31, 2009, the Company’s portfolio consisted of 73 properties, located in 16 states containing an aggregate of approximately 3.5 million square feet of gross leasable area (GLA). As of December 31, 2009, its portfolio included 61 freestanding net leased properties and 12 community shopping centers that were 98.1% leased.
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