Agree CEO Says Interest Rates a Major Variable in 2017

Joey Agree, president and CEO of Agree Realty Corp. (NYSE: ADC), joined REIT.com for a CEO Spotlight video interview at REITWorld 2016: NAREIT’s Annual Convention for All Things REIT at the JW Marriott Phoenix Desert Ridge.

Agree Realty focuses on the acquisition and development of properties that are net leased to retail tenants. The company currently owns and operates a portfolio of 341 properties, located in 43 states. The company seeks external growth by acquiring assets, developing properties and joint ventures.

On the macroeconomic front, the biggest impact in 2017 will come from potential changes to interest rates, according to Agree. While the recent general election added another element of uncertainty to the operating environment, Agree noted that the company is focusing on its “unique operating strategy and executing on it no matter what the environment.”

Agree pointed out that the company’s portfolio is 46 percent investment grade, focused on national and super-regional retailers across a number of diverse sectors. “It really starts with a lens of e-commerce and recession resistance,” he said.