Agree Development Acquires 10-Property Retail Portfolio Across Five States For $75.9M

Agree Development acquired a 10-property net lease retail portfolio consisting of 322,304 square feet across multiple markets: Colorado, Illinois, Nevada, Texas, and Wisconsin. The sale was finalized for $75,900,000, resulting in a price per square foot of $235.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $75,900,000
• Square Footage: 322,304
• Price per Square Foot: $235
• Buyer: Agree Development
• Brokers: Paula Danker - Kidder Mathews; Scott Reid - Parasell Inc; Jon Nesbitt, Kristen Zimmerman & Remy Tams - Designated Broker Solutions
• Markets: Colorado, Illinois, Nevada, Texas, Wisconsin

This deal was facilitated by brokers from Kidder Mathews and Parasell Inc, encompassing a diverse range of retail assets including grocery stores, auto service centers, and a Dutch Bros Coffee. The acquisition occurs in a context of increasing vacancies and a slowdown in retail leasing across the nation.