Agree Realty Corporation announced that it has closed on the acquisition of the building formerly occupied by Art Van Furniture at 32301 Woodward Avenue in Royal Oak, Michigan. The building is centrally located in Metro Detroit and offers a unique opportunity to create a landmark headquarters to support the Company's continued growth. Construction is anticipated to commence on the approximately 50,000 square foot building in the first quarter of 2022 and be completed for relocation during the second quarter of 2023.

Plans call for additional training and development space, health and wellness facilities, and collaborative meeting areas aligned with the Company's ADC University and ADC Wellness initiatives.