1、1 9 9 4 -2 0 1 4D E V E L OP|A CQU I R E|P A R T N E R4Y E A R Sa n n u a l02 0 1 4A N D 1 0-K10A NNUA LR E P OR T f o r t h e y e a r e n d e d D E CE MB E R 3 1,2 0 1 4A g r e e R e a l t y Co r p o r a t i o n (N Y S E:A D C)i s af u l l y-i n t e g r a t e d,s e l f-a d mi n i s t e r e d,a n d
2、s e l f-ma n a g e d r e a l e s t a t e i n v e s t me n t t r u s ts e l f-ma n a g e d r e a l e s t a t e i n v e s t me n t t r u s t(R E I T)f o c u s e d o n t h e a c q u i s i t i o n a n dd e v e l o p me n t o f p r o p e r t i e s n e t l e a s e d t oi n d u s t r y-l e a d i n g r e t
3、a i l e r s t h r o u g h o u t t h eU n i t e d S t a t e s.B u i l d i n g u p o n t h e f o u n d a t i o n o fe x c e l l e n c e e s t a b l i s h e d t h r o u g h o u t t h ee x c e l l e n c e e s t a b l i s h e d t h r o u g h o u t t h ep a s t f o u r d e c a d e s,A g r e e R e a l t y
4、c o n t i n u e st o b e a ma r k e t l e a d e r i n t h e n e t l e a s es p a c e.A t D e c e mb e r 3 1,2 0 1 4,o u r g r o wi n gp o r t f o l i o c o n s i s t e d o f 2 0 9 a s s e t s i n 3 7 s t a t e s,c o n t a i n i n g a p p r o x i ma t e l y 4.3 mi l l i o ns q u a r e f e e t o f g r
5、 o s s l e a s a b l e s p a c e.Dear Fellow Agree Shareholders,This past year,the 20th anniversary of our listing on the New York Stock Exchange,was an opportunity to commemorate and reflect on our two decades as a real estate investment trust.While much has changed in the retail landscape,our busi
6、ness strategy and our real estate portfolio,the foundation of Agree Realty remains one built on integrity,trust and alignment with our shareholders.Prior to the onset of 2014,we,of course,defined our upcoming real estate objectives,but we were also determined to undertake an evaluation and improveme