Portland, Ore. — This is the second Lowe’s added to Agree Realty’s portfolio.
Portland, Ore. — Agree Realty Corporation has acquired a 133,000-square-foot retail property leased to Lowe’s Home Improvement in Portland, Ore., for approximately $14.1 million. The company assumed $9.64 million of debt that matures in June 2014 and carries a 5.075 percent interest rate. Lowe’s has 17 years remaining on the base term of the ground lease. This marks the second Lowe’s added to Agree Realty’s portfolio of net leased assets.