Agree Realty Corporation Announces Brighton, Michigan Development Project

FARMINGTON HILLS, Mich., June 19 /PRNewswire-FirstCall/ -- Agree Realty
Corporation (NYSE: ADC) today announced that it would develop, for retail use,
a property located in Brighton, Michigan.
The project, which is pre-leased to a national leader in the U.S. chain
drugstore industry, is expected to be completed during the fourth quarter of
2008. The store will be conveniently located at the intersection of Grand
River and Whitmore Lake Road.
"In light of challenging economic conditions we continue to capitalize on
quality development opportunities," said Joey Agree, Executive Vice President
of Agree Realty Corporation. "This project will be an excellent addition to
our expanding portfolio."
Agree Realty Corporation is engaged in the ownership, management and
development of properties which are primarily single tenant properties leased
to major retail tenants and neighborhood community shopping centers. Agree
Realty owns and operates a portfolio of 67 properties, located in 16 states
and containing 3.4 million square feet of leasable space.
Agree Realty Corporation considers portions of the information contained
in this release to be forward-looking statements within the meaning of Section
27A of the Securities Act of 1933 and Section 27E of the Securities Exchange
Act of 1934, both as amended, with respect to the Company's expectation for
future periods. Such statements are, by their nature, subject to certain
risks and uncertainties. The Company cautions that, as a result of a number
of factors, actual results could differ materially from those set forth in
this presentation. Other risks, uncertainties and factors that could cause
actual results to differ materially than those projected are detailed from
time to time in reports filed by the Company with the Securities and Exchange
Commission, including Forms 8-K, 10-Q and 10-K.
SOURCE Agree Realty Corporation

Kenneth R. Howe of Agree Realty Corporation, Chief Financial Officer,
+1-248-737-4190