Agree Realty Corporation (NYSE: ADC) is a publicly traded real estate investment trust headquartered in Chicago, Illinois. Founded in 1971, the company converted to a REIT structure in 2013 and focuses on acquiring, developing and managing a diversified portfolio of retail properties under long-term, triple-net (NNN) leases. Its tenant roster spans national and regional retailers in sectors such as grocery, home improvement, convenience and specialty retail.
Agree Realty’s primary business activities include sourcing and underwriting new property acquisitions, originating build-to-suit projects and executing value-add redevelopment programs. The company often targets grocery-anchored community centers and freestanding retail assets that exhibit strong demographic profiles and defensive retail categories. By partnering with investment-grade and other creditworthy tenants, Agree Realty seeks to generate stable, inflation-protected cash flows for its shareholders.
With a geographically diversified footprint across more than 40 states, Agree Realty maintains local asset management teams responsible for day-to-day property operations, lease administration and capital expenditure planning. The company continually evaluates market trends and tenant credit to optimize lease maturities and maintain high portfolio occupancy. Development activity is funded through a combination of internal capital and third-party joint ventures, providing balance-sheet flexibility.
Leadership at Agree Realty is headed by President and Chief Executive Officer Michael Manelis, who has guided the company’s strategic direction since 2008. Under his oversight, the firm has expanded its scale and refined its portfolio toward high-quality, net-lease assets. Senior management places a strong emphasis on disciplined underwriting, shareholder returns and sustainable growth within the retail real estate sector.