Bloomfield Hills, Michigan-based Agree Realty Corporation has closed on the acquisition of 11 retail properties for a total purchase price of about $26.5 million.
The transactions were completed at a weighted-average cap rate of 8.5 percent and have a weighted-average remaining lease term of 10.4 years.
The recently closed acquisitions include a portfolio transaction consisting of a BJ’s Wholesale Club, an IHOP restaurant, a KeyBank and an asset net-leased to PetSmart, Staples and Party City.
