Agree Realty Corporation is a fully integrated real estate investment trust (REIT) headquartered in Royal Oak, Michigan. The company focuses on the acquisition and development of freestanding properties net leased to industry-leading retail tenants across the United States. Agree Realty is distinctive for its strategic emphasis on e-commerce-resistant and recession-resilient retailers, with a strong focus on investment-grade tenants.
No single tenant accounted for more than 10.0% of annualized base rent as of December 31, 2025. The largest tenants by percentage of annualized base rent were Walmart (5.6%), Tractor Supply (4.9%), Dollar General (3.9%), O'Reilly Auto Parts (3.0%), TJX Companies (3.0%), Best Buy (3.0%), CVS (2.9%), Kroger (2.9%), Lowe's (2.9%) and Hobby Lobby (2.9%). By sector, grocery stores (10.3%), home improvement (9.0%) and convenience stores (7.7%) were the largest concentrations. Total portfolio annualized base rent was $733.4 million across 2,674 properties in all 50 states.