Agree Realty Announces Rancho Cordova, California Project
Agree Realty Corporation (NYSE: ADC) today announced it has closed on a land parcel in northern California to be developed for a leading retail use.
The project, which is pre-leased under a twenty-five year agreement to the industry leader in the retail pharmacy sector, is expected to be completed by the first quarter of 2013. The site is strategically located at the northeast corner of Folsom Boulevard and Zinfandel Drive in Rancho Cordova, California.
The site previously consisted of numerous structures, including a motel, a multi-family residential structure as well as a closed restaurant. Existing retailers in the immediate vicinity include Walmart, Safeway, Target, Grocery Outlet, Ross Dress for Less, and Kohl's.
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