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Agree Realty announces re-tenanting and disposition of Borders assets


Farmington Hills, Mich. -- Agree Realty Corp. said it has executed two leases and completed a disposition of the company's remaining assets that were formerly leased to Borders.

The company has executed a lease with HomeGoods for the building formerly occupied by Borders in Monroeville, Pa. HomeGoods, a TJX Cos. banner, will occupy the space effective third quarter of 2013.

Agree also closed on the sale of a 21,000-sq.-ft. single-tenant property formerly leased to Borders located in Columbus, Ohio. The property was sold for approximately $1.7 million. Also, Agree entered

into a lease with the City of Lawrence for the former Borders location in Lawrence, Kan. Rent is anticipated to commence during the fourth quarter of 2012.

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