Agree Realty Announces Illinois Joint Venture


FARMINGTON HILLS — Agree Realty Corp. has closed on a 4.5 acre parcel of land in New Lenox, Illinois through its Joint Venture Capital Solutions program.

TJ Maxx, Ross Dress for Less and Petco have executed 10 year net leases to occupy over 62,000 square feet of the New Lenox Town Center,  Agree will construct the project and be the sole owner of the property upon project completion. The project cost is estimated at $8 million.

“We are pleased to complete yet another transaction with Agree Realty. We were able to tailor a structure that was mutually beneficial to both parties with Agree providing the expertise to get this deal completed in an expedited time frame,” said John McVickers, president of McVickers Development LLC.

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