Agree Realty Acquires Lowe's in Oregon for $14.1 Million

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Last Updated ( Wednesday, 30 May 2012 13:56 )

DATE_FORMAT_LC2=Wednesday,May 30 2012 12:00:00 am EDT

Agree Realty Acquires Lowe's in Oregon for $14.1 Million

Portland, Ore. — Agree Realty Corporation has acquired a 133,000-square-foot retail property leased to Lowe's Home Improvement in Portland, Ore., for approximately $14.1 million. The company assumed $9.64 million of debt that matures in June 2014 and carries a 5.075 percent interest rate. Lowe's has 17 years remaining on the base term of the ground lease. This marks the second Lowe's added to Agree Realty's portfolio of net leased assets.

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