{"id":1004080278,"date":"2013-07-15T19:43:20","date_gmt":"2013-07-16T03:43:20","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=146389"},"modified":"2020-04-16T01:41:21","modified_gmt":"2020-04-16T09:41:21","slug":"agree-realty-corp-buys-cleveland-area-sams-club-for-21-4m","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/agree-realty-corp-buys-cleveland-area-sams-club-for-21-4m\/","title":{"rendered":"Agree Realty Corp. Buys Cleveland-Area Sam\u2019s Club for $21.4M"},"content":{"rendered":"<p><em style=\"text-align: justify; font-size: 13px; line-height: 19px;\">By Adrian Maties, Associate Editor<\/em><\/p>\n<div id=\"attachment_146391\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2013\/07\/sams-club.jpg\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-146391\" class=\"wp-image-146391 size-medium\" src=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2013\/07\/sams-club.jpg\" alt=\"Sam's Club\" width=\"300\" height=\"199\" \/><\/a><p id=\"caption-attachment-146391\" class=\"wp-caption-text\">Sam&#8217;s Club<\/p><\/div>\n<p style=\"text-align: justify;\">Agree Realty Corp., a Farmington Hills, Mich.-based real estate investment trust involved in the development and acquisition of single-tenant net lease retail properties, recently purchased a triple-net-leased Sam\u2019s Club located in Brooklyn, Ohio. Marcus &amp; Millichap Real Estate Investment Services arranged the all-cash sale.<\/p>\n<p style=\"text-align: justify;\">The 147,771-square-foot freestanding building is located at 10250 Brookpark Road, at the intersection of Tiedeman and Brookpark roads. It was constructed in 1987, on 9.9 acres of land. Over the last decade, it has been periodically remodeled.<\/p>\n<p style=\"text-align: justify;\">Agree Realty acquired the retail building from Betco Properties L.L.C., an affiliate of Cleveland-based Stark Enterprises. It paid $21.4 million, or 145 per square foot, for the property. A Sam\u2019s Club Fuel Center outparcel was included in the sale. Marcus &amp; Millichap\u2019s Scott Wiles, Craig Fuller and Erin Patton represented the seller. Sam\u2019s Club has 5.5 years remaining on its lease and a percentage rent clause tied to the store\u2019s gross sales, providing a potential source of additional income.<\/p>\n<p style=\"text-align: justify;\">Scott Wiles, a vice president of investments in<a href=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2013\/07\/cleret2013.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignright size-medium wp-image-146390\" src=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2013\/07\/cleret2013.jpg\" alt=\"\" width=\"270\" height=\"300\" \/><\/a> Marcus &amp; Millichap\u2019s Cleveland office, said the property received a lot of attention from investors. Erin Patton, a vice president of investments in the firm\u2019s Columbus office, added that the property is located just next door to a newly expanded and remodeled Walmart Supercenter, at a heavily trafficked intersection that sees daily traffic counts of 53,730 cars.<\/p>\n<p style=\"text-align: justify;\">Agree Realty also acquired a 7,840-square-foot AutoZone store on South Kedzie Road in Chicago. \u201cWe are extremely pleased to announce these two high-quality additions to our portfolio. With the acquisition of this Sam\u2019s Club, Walmart has now become the fourth-largest tenant in our portfolio by rental revenue,\u201d said Joey Agree, president &amp; CEO.\u00a0\u201dOur acquisition team continues to source value-add, accretive opportunities leased to industry-leading tenants.\u201d<\/p>\n<p style=\"text-align: justify;\">Agree Realty currently owns and operates a portfolio of 120 properties in 32 states, with about 3.5 million square feet of gross leasable space.<\/p>\n<h6 style=\"text-align: justify;\"><em>Photo credits: <a href=\"https:\/\/www.agreerealty.com\/\" target=\"_blank\" rel=\"nofollow\">Agree Realty Corp.<\/a><\/em><\/h6>\n<h6 style=\"text-align: justify;\"><em>Charts courtesy of\u00a0<a href=\"https:\/\/www.marcusmillichap.com\/\" target=\"_blank\" rel=\"nofollow\">Marcus &amp; Millichap<\/a><\/em><\/h6>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Agree Realty Corp., a Farmington Hills, Mich.-based real estate investment trust involved in the development and acquisition of single tenant net lease retail properties, has recently purchased a triple-net leased Sam&rsquo;s Club located in Brooklyn, Ohio. Marcus &amp; Millichap Real Estate Investment Services has arranged the all-cash sale.<\/p>\n","protected":false},"author":925,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1584,21742],"tags":[39423,1815],"class_list":["post-1004080278","post","type-post","status-publish","format-standard","hentry","category-cleveland","category-latest","tag-cleveland","tag-national"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Agree Realty Corp. Buys Cleveland-Area Sam\u2019s Club for $21.4M - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/agree-realty-corp-buys-cleveland-area-sams-club-for-21-4m\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Agree Realty Corp. Buys Cleveland-Area Sam\u2019s Club for $21.4M\" \/>\n<meta property=\"og:description\" content=\"Agree Realty Corp., a Farmington Hills, Mich.-based real estate investment trust involved in the development and acquisition of single tenant net lease retail properties, has recently purchased a triple-net leased Sam&rsquo;s Club located in Brooklyn, Ohio. Marcus &amp; Millichap Real Estate Investment Services has arranged the all-cash sale.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/agree-realty-corp-buys-cleveland-area-sams-club-for-21-4m\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2013-07-16T03:43:20+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-04-16T09:41:21+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2013\/07\/sams-club.jpg\" \/>\n<meta name=\"author\" content=\"Adrian Maties\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/agree-realty-corp-buys-cleveland-area-sams-club-for-21-4m\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/agree-realty-corp-buys-cleveland-area-sams-club-for-21-4m\\\/\"},\"author\":{\"name\":\"Adrian Maties\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/6dfc8d1c9006c9fd1c89d69133130109\"},\"headline\":\"Agree Realty Corp. Buys Cleveland-Area Sam\u2019s Club for $21.4M\",\"datePublished\":\"2013-07-16T03:43:20+00:00\",\"dateModified\":\"2020-04-16T09:41:21+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/agree-realty-corp-buys-cleveland-area-sams-club-for-21-4m\\\/\"},\"wordCount\":353,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/agree-realty-corp-buys-cleveland-area-sams-club-for-21-4m\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/synd.yardi.com\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2013\\\/07\\\/sams-club.jpg\",\"keywords\":[\"Cleveland\",\"National\"],\"articleSection\":[\"Cleveland\",\"News\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/agree-realty-corp-buys-cleveland-area-sams-club-for-21-4m\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/agree-realty-corp-buys-cleveland-area-sams-club-for-21-4m\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/agree-realty-corp-buys-cleveland-area-sams-club-for-21-4m\\\/\",\"name\":\"Agree Realty Corp. Buys Cleveland-Area Sam\u2019s Club for $21.4M - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/agree-realty-corp-buys-cleveland-area-sams-club-for-21-4m\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/agree-realty-corp-buys-cleveland-area-sams-club-for-21-4m\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/synd.yardi.com\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2013\\\/07\\\/sams-club.jpg\",\"datePublished\":\"2013-07-16T03:43:20+00:00\",\"dateModified\":\"2020-04-16T09:41:21+00:00\",\"author\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/6dfc8d1c9006c9fd1c89d69133130109\"},\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/agree-realty-corp-buys-cleveland-area-sams-club-for-21-4m\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/agree-realty-corp-buys-cleveland-area-sams-club-for-21-4m\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/agree-realty-corp-buys-cleveland-area-sams-club-for-21-4m\\\/#primaryimage\",\"url\":\"https:\\\/\\\/synd.yardi.com\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2013\\\/07\\\/sams-club.jpg\",\"contentUrl\":\"https:\\\/\\\/synd.yardi.com\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2013\\\/07\\\/sams-club.jpg\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/agree-realty-corp-buys-cleveland-area-sams-club-for-21-4m\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Agree Realty Corp. Buys Cleveland-Area Sam\u2019s Club for $21.4M\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#website\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/\",\"name\":\"Commercial Property Executive\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/6dfc8d1c9006c9fd1c89d69133130109\",\"name\":\"Adrian Maties\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/5d44b73a0d511e855d0ea5f29d28e7d8527c86a0c6c0f67be8f2e9642a9d9e8d?s=96&d=mm&r=g\",\"url\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/5d44b73a0d511e855d0ea5f29d28e7d8527c86a0c6c0f67be8f2e9642a9d9e8d?s=96&d=mm&r=g\",\"contentUrl\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/5d44b73a0d511e855d0ea5f29d28e7d8527c86a0c6c0f67be8f2e9642a9d9e8d?s=96&d=mm&r=g\",\"caption\":\"Adrian Maties\"},\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/author\\\/adrianmaties\\\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Agree Realty Corp. Buys Cleveland-Area Sam\u2019s Club for $21.4M - Commercial Property Executive","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.commercialsearch.com\/news\/agree-realty-corp-buys-cleveland-area-sams-club-for-21-4m\/","og_locale":"en_US","og_type":"article","og_title":"Agree Realty Corp. Buys Cleveland-Area Sam\u2019s Club for $21.4M","og_description":"Agree Realty Corp., a Farmington Hills, Mich.-based real estate investment trust involved in the development and acquisition of single tenant net lease retail properties, has recently purchased a triple-net leased Sam&rsquo;s Club located in Brooklyn, Ohio. Marcus &amp; Millichap Real Estate Investment Services has arranged the all-cash sale.","og_url":"https:\/\/www.commercialsearch.com\/news\/agree-realty-corp-buys-cleveland-area-sams-club-for-21-4m\/","og_site_name":"Commercial Property Executive","article_publisher":"https:\/\/www.facebook.com\/CPExecutive","article_published_time":"2013-07-16T03:43:20+00:00","article_modified_time":"2020-04-16T09:41:21+00:00","og_image":[{"url":"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2013\/07\/sams-club.jpg","type":"","width":"","height":""}],"author":"Adrian Maties","twitter_card":"summary_large_image","twitter_creator":"@cpexecutive","twitter_site":"@cpexecutive","schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.commercialsearch.com\/news\/agree-realty-corp-buys-cleveland-area-sams-club-for-21-4m\/#article","isPartOf":{"@id":"https:\/\/www.commercialsearch.com\/news\/agree-realty-corp-buys-cleveland-area-sams-club-for-21-4m\/"},"author":{"name":"Adrian Maties","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/6dfc8d1c9006c9fd1c89d69133130109"},"headline":"Agree Realty Corp. Buys Cleveland-Area Sam\u2019s Club for $21.4M","datePublished":"2013-07-16T03:43:20+00:00","dateModified":"2020-04-16T09:41:21+00:00","mainEntityOfPage":{"@id":"https:\/\/www.commercialsearch.com\/news\/agree-realty-corp-buys-cleveland-area-sams-club-for-21-4m\/"},"wordCount":353,"commentCount":0,"image":{"@id":"https:\/\/www.commercialsearch.com\/news\/agree-realty-corp-buys-cleveland-area-sams-club-for-21-4m\/#primaryimage"},"thumbnailUrl":"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2013\/07\/sams-club.jpg","keywords":["Cleveland","National"],"articleSection":["Cleveland","News"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.commercialsearch.com\/news\/agree-realty-corp-buys-cleveland-area-sams-club-for-21-4m\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.commercialsearch.com\/news\/agree-realty-corp-buys-cleveland-area-sams-club-for-21-4m\/","url":"https:\/\/www.commercialsearch.com\/news\/agree-realty-corp-buys-cleveland-area-sams-club-for-21-4m\/","name":"Agree Realty Corp. Buys Cleveland-Area Sam\u2019s Club for $21.4M - Commercial Property Executive","isPartOf":{"@id":"https:\/\/www.commercialsearch.com\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.commercialsearch.com\/news\/agree-realty-corp-buys-cleveland-area-sams-club-for-21-4m\/#primaryimage"},"image":{"@id":"https:\/\/www.commercialsearch.com\/news\/agree-realty-corp-buys-cleveland-area-sams-club-for-21-4m\/#primaryimage"},"thumbnailUrl":"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2013\/07\/sams-club.jpg","datePublished":"2013-07-16T03:43:20+00:00","dateModified":"2020-04-16T09:41:21+00:00","author":{"@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/6dfc8d1c9006c9fd1c89d69133130109"},"breadcrumb":{"@id":"https:\/\/www.commercialsearch.com\/news\/agree-realty-corp-buys-cleveland-area-sams-club-for-21-4m\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.commercialsearch.com\/news\/agree-realty-corp-buys-cleveland-area-sams-club-for-21-4m\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/agree-realty-corp-buys-cleveland-area-sams-club-for-21-4m\/#primaryimage","url":"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2013\/07\/sams-club.jpg","contentUrl":"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2013\/07\/sams-club.jpg"},{"@type":"BreadcrumbList","@id":"https:\/\/www.commercialsearch.com\/news\/agree-realty-corp-buys-cleveland-area-sams-club-for-21-4m\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.commercialsearch.com\/news\/"},{"@type":"ListItem","position":2,"name":"Agree Realty Corp. Buys Cleveland-Area Sam\u2019s Club for $21.4M"}]},{"@type":"WebSite","@id":"https:\/\/www.commercialsearch.com\/news\/#website","url":"https:\/\/www.commercialsearch.com\/news\/","name":"Commercial Property Executive","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/6dfc8d1c9006c9fd1c89d69133130109","name":"Adrian Maties","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/secure.gravatar.com\/avatar\/5d44b73a0d511e855d0ea5f29d28e7d8527c86a0c6c0f67be8f2e9642a9d9e8d?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/5d44b73a0d511e855d0ea5f29d28e7d8527c86a0c6c0f67be8f2e9642a9d9e8d?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/5d44b73a0d511e855d0ea5f29d28e7d8527c86a0c6c0f67be8f2e9642a9d9e8d?s=96&d=mm&r=g","caption":"Adrian Maties"},"url":"https:\/\/www.commercialsearch.com\/news\/author\/adrianmaties\/"}]}},"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004080278","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/users\/925"}],"replies":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/comments?post=1004080278"}],"version-history":[{"count":1,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004080278\/revisions"}],"predecessor-version":[{"id":1004419402,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004080278\/revisions\/1004419402"}],"wp:attachment":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media?parent=1004080278"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/categories?post=1004080278"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/tags?post=1004080278"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}