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Proc-Type: 2001,MIC-CLEAR
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<SEC-DOCUMENT>0001144204-09-029767.txt : 20090528
<SEC-HEADER>0001144204-09-029767.hdr.sgml : 20090528
<ACCEPTANCE-DATETIME>20090528120744
ACCESSION NUMBER:		0001144204-09-029767
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20090528
ITEM INFORMATION:		Unregistered Sales of Equity Securities
FILED AS OF DATE:		20090528
DATE AS OF CHANGE:		20090528

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			AGREE REALTY CORP
		CENTRAL INDEX KEY:			0000917251
		STANDARD INDUSTRIAL CLASSIFICATION:	REAL ESTATE INVESTMENT TRUSTS [6798]
		IRS NUMBER:				383148187
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-12928
		FILM NUMBER:		09856545

	BUSINESS ADDRESS:	
		STREET 1:		31850 NORTHWESTERN HGWY
		CITY:			FARMINGTON HILLS
		STATE:			MI
		ZIP:			48334
		BUSINESS PHONE:		8107374190

	MAIL ADDRESS:	
		STREET 1:		31850 NORTHWESTERN HIGHWAY
		CITY:			FARMINGTON HILLS
		STATE:			MI
		ZIP:			48334
</SEC-HEADER>
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STATES</font></div>
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appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing obligation of the registrant under any of the following
provisions:</font></div>
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Corporation issued 257,794 shares of common stock upon the tender of 257,794 OP
Units by the estate of a limited partner of Agree Limited
Partnership.&#160;&#160;In accordance with terms of the limited partnership
agreement of Agree Limited Partnership, each OP Unit may be exchanged for a
share of common stock at the election of the limited partners.&#160;&#160;Agree
Realty Corporation, as sole general partner of Agree Limited Partnership, has
the option, but not the obligation, to settle exchanged OP Units in cash based
on the current trading price of its common stock, but did not exercise such
right in connection with the foregoing tender.&#160;&#160;The issuance of shares
of common stock was made in a private placement transaction exempt from
registration pursuant to Section 4 (2) of the Securities Act of 1933, as
amended.</font></div>
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Securities Exchange Act of 1934, the registrant has duly caused this report to
be signed on its behalf by the undersigned hereunto duly
authorized.</font></div>
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      REALTY CORPORATION</font></div>
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      Howe&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></font></div>
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