<SEC-DOCUMENT>0001104659-21-000314.txt : 20210104
<SEC-HEADER>0001104659-21-000314.hdr.sgml : 20210104
<ACCEPTANCE-DATETIME>20210104161355
ACCESSION NUMBER:		0001104659-21-000314
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		14
CONFORMED PERIOD OF REPORT:	20210104
ITEM INFORMATION:		Regulation FD Disclosure
ITEM INFORMATION:		Other Events
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20210104
DATE AS OF CHANGE:		20210104

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:		21501930

	BUSINESS ADDRESS:	
		STREET 1:		70 E. LONG LAKE ROAD
		CITY:			BLOOMFIELD HILLS
		STATE:			MI
		ZIP:			48034
		BUSINESS PHONE:		8107374190

	MAIL ADDRESS:	
		STREET 1:		70 E. LONG LAKE ROAD
		CITY:			BLOOMFIELD HILLS
		STATE:			MI
		ZIP:			48034
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>tm211535d1_8k.htm
<DESCRIPTION>FORM 8-K
<TEXT>
<XBRL>
<?xml version="1.0" encoding="utf-8"?>
<html xmlns="http://www.w3.org/1999/xhtml" xmlns:xs="http://www.w3.org/2001/XMLSchema-instance" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:xbrli="http://www.xbrl.org/2003/instance" xmlns:xbrldi="http://xbrl.org/2006/xbrldi" xmlns:xbrldt="http://xbrl.org/2005/xbrldt" xmlns:iso4217="http://www.xbrl.org/2003/iso4217" xmlns:ix="http://www.xbrl.org/2013/inlineXBRL" xmlns:ixt="http://www.xbrl.org/inlineXBRL/transformation/2015-02-26" xmlns:ixt-sec="http://www.sec.gov/inlineXBRL/transformation/2015-08-31" xmlns:link="http://www.xbrl.org/2003/linkbase" xmlns:dei="http://xbrl.sec.gov/dei/2020-01-31" xmlns:ref="http://www.xbrl.org/2006/ref" xmlns:us-gaap="http://fasb.org/us-gaap/2020-01-31" xmlns:us-roles="http://fasb.org/us-roles/2020-01-31" xmlns:country="http://xbrl.sec.gov/country/2020-01-31" xmlns:srt="http://fasb.org/srt/2020-01-31" xmlns:adc="http://agreerealty.com/20210104">
<head>
     <title></title>
<meta http-equiv="Content-Type" content="text/html" />
</head>
<!-- Field: Set; Name: xdx; ID: xdx_029_US%2DGAAP%2D2020 -->
<!-- Field: Set; Name: xdx; ID: xdx_03F_adc_agreerealty.com_20210104 -->
<!-- Field: Set; Name: xdx; ID: xdx_047_20210104_20210104 -->
<!-- Field: Set; Name: xdx; ID: xdx_050_edei%2D%2DEntityCentralIndexKey_0000917251 -->
<!-- Field: Set; Name: xdx; ID: xdx_059_edei%2D%2DAmendmentFlag_false -->
<!-- Field: Set; Name: xdx; ID: xdx_06B_USD_1_iso4217%2D%2DUSD -->
<!-- Field: Set; Name: xdx; ID: xdx_062_Shares_2_xbrli%2D%2Dshares -->
<!-- Field: Set; Name: xdx; ID: xdx_06D_USDPShares_3_iso4217%2D%2DUSD_xbrli%2D%2Dshares -->
<body style="font: 10pt Times New Roman, Times, Serif">
<div style="display: none">
<ix:header>
  <ix:hidden>
    <ix:nonNumeric contextRef="From2021-01-04to2021-01-04" name="dei:EntityCentralIndexKey">0000917251</ix:nonNumeric>
    <ix:nonNumeric contextRef="From2021-01-04to2021-01-04" format="ixt:booleanfalse" name="dei:AmendmentFlag">false</ix:nonNumeric>
    </ix:hidden>
  <ix:references>
    <link:schemaRef xlink:href="adc-20210104.xsd" xlink:type="simple" />
    </ix:references>
  <ix:resources>
    <xbrli:context id="From2021-01-04to2021-01-04">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0000917251</xbrli:identifier>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:startDate>2021-01-04</xbrli:startDate>
        <xbrli:endDate>2021-01-04</xbrli:endDate>
      </xbrli:period>
    </xbrli:context>
    <xbrli:unit id="USD">
      <xbrli:measure>iso4217:USD</xbrli:measure>
    </xbrli:unit>
    <xbrli:unit id="Shares">
      <xbrli:measure>xbrli:shares</xbrli:measure>
    </xbrli:unit>
    <xbrli:unit id="USDPShares">
      <xbrli:divide>
        <xbrli:unitNumerator>
          <xbrli:measure>iso4217:USD</xbrli:measure>
        </xbrli:unitNumerator>
        <xbrli:unitDenominator>
          <xbrli:measure>xbrli:shares</xbrli:measure>
        </xbrli:unitDenominator>
      </xbrli:divide>
    </xbrli:unit>
    </ix:resources>
  </ix:header>
</div>


<p style="text-align: center; margin-top: 0; margin-bottom: 0">&#160;</p>

<!-- Field: Rule-Page -->
<div style="text-align: center">
<div style="border-top: black 2pt solid; border-bottom: black 1pt solid; text-align: center; width: 100%; font-size: 1pt">&#160;</div></div><!-- Field: /Rule-Page --><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><b>UNITED STATES</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><b>SECURITIES AND EXCHANGE COMMISSION</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><b>WASHINGTON, D.C. 20549</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">______________</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><b>FORM <span id="xdx_903_edei--DocumentType_c20210104__20210104_zsMwW0hRkHhg"><ix:nonNumeric contextRef="From2021-01-04to2021-01-04" name="dei:DocumentType">8-K</ix:nonNumeric></span></b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>CURRENT REPORT</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>PURSUANT TO SECTION 13 OR 15(d) OF THE</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>SECURITIES EXCHANGE ACT OF 1934</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&#160;</p>


<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">Date of report (Date
of earliest event reported): <span id="xdx_900_edei--DocumentPeriodEndDate_c20210104__20210104_zX9ltvtxS4t3"><ix:nonNumeric contextRef="From2021-01-04to2021-01-04" format="ixt:datemonthdayyearen" name="dei:DocumentPeriodEndDate">January 4, 2021</ix:nonNumeric></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&#160;</p>

<p style="font: 14pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><b><span id="xdx_908_edei--EntityRegistrantName_c20210104__20210104_zZX3tqyZ9IB6"><ix:nonNumeric contextRef="From2021-01-04to2021-01-04" name="dei:EntityRegistrantName">AGREE REALTY CORPORATION</ix:nonNumeric></span></b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">(Exact name of registrant as specified in
its charter)</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><b><span id="xdx_900_edei--EntityIncorporationStateCountryCode_c20210104__20210104_zpbzOQTTQsVh"><ix:nonNumeric contextRef="From2021-01-04to2021-01-04" format="ixt-sec:stateprovnameen" name="dei:EntityIncorporationStateCountryCode">Maryland</ix:nonNumeric></span></b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">(State or other jurisdiction of incorporation)</p>

<p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">&#160;</p>

<table cellspacing="0" cellpadding="0" style="font: 10pt/normal Times New Roman, Times, Serif; border-collapse: collapse; font-size-adjust: none; font-stretch: normal; width: 100%">
<tr style="vertical-align: top">
    <td style="text-align: center; width: 50%">
        <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><b><span id="xdx_903_edei--EntityFileNumber_c20210104__20210104_zbX6g7MEjrd6"><ix:nonNumeric contextRef="From2021-01-04to2021-01-04" name="dei:EntityFileNumber">1-12928</ix:nonNumeric></span></b></p>
        <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">(Commission file number)</p></td>
    <td style="text-align: center; width: 50%">
        <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><b><span id="xdx_901_edei--EntityTaxIdentificationNumber_c20210104__20210104_zYxkvdrgV328"><ix:nonNumeric contextRef="From2021-01-04to2021-01-04" name="dei:EntityTaxIdentificationNumber">38-3148187</ix:nonNumeric></span></b></p>
        <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">(I.R.S. Employer Identification No.)</p></td></tr>
<tr style="vertical-align: top">
    <td style="text-align: center; font-size: 10pt">&#160;</td>
    <td style="text-align: center; font-size: 10pt">&#160;</td></tr>
<tr style="vertical-align: top">
    <td style="text-align: center">
        <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><b><span id="xdx_90F_edei--EntityAddressAddressLine1_c20210104__20210104_zGWSMZLQQwi3"><ix:nonNumeric contextRef="From2021-01-04to2021-01-04" name="dei:EntityAddressAddressLine1">70 E. Long Lake Road</ix:nonNumeric></span></b></p>
        <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><b><span id="xdx_905_edei--EntityAddressCityOrTown_c20210104__20210104_zcX7TNYrhbDk"><ix:nonNumeric contextRef="From2021-01-04to2021-01-04" name="dei:EntityAddressCityOrTown">Bloomfield Hills</ix:nonNumeric></span>, <span id="xdx_903_edei--EntityAddressStateOrProvince_c20210104__20210104_zIHYBYc1w1p8"><ix:nonNumeric contextRef="From2021-01-04to2021-01-04" name="dei:EntityAddressStateOrProvince">MI</ix:nonNumeric></span></b></p>
        <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><b><span>(Address of principal executive offices)</span></b></p>
        <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"></p></td>
    <td style="text-align: center; vertical-align: bottom">
        <p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><b><span id="xdx_908_edei--EntityAddressPostalZipCode_c20210104__20210104_zUBCc1tZCEbd"><ix:nonNumeric contextRef="From2021-01-04to2021-01-04" name="dei:EntityAddressPostalZipCode">48304</ix:nonNumeric></span></b></p>
        <p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">(Zip code)</p></td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">(Registrant&#8217;s telephone number, including
area code) <b>(<span id="xdx_904_edei--CityAreaCode_c20210104__20210104_zDnp0LsjFwla"><ix:nonNumeric contextRef="From2021-01-04to2021-01-04" name="dei:CityAreaCode">248</ix:nonNumeric></span>) <span id="xdx_90E_edei--LocalPhoneNumber_c20210104__20210104_zMLfFpZqXMRg"><ix:nonNumeric contextRef="From2021-01-04to2021-01-04" name="dei:LocalPhoneNumber">737-4190</ix:nonNumeric></span></b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="text-decoration: underline">Not applicable </span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">(Former name or former address, if changed
since last report)</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt">Check the 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:</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<table cellspacing="0" cellpadding="0" style="font: 10pt/normal Times New Roman, Times, Serif; border-collapse: collapse; font-size-adjust: none; font-stretch: normal; width: 100%">
<tr style="vertical-align: top">
    <td style="width: 0.25in; font-size: 10pt"><span style="font-family: Wingdings"><span id="xdx_90C_edei--WrittenCommunications_c20210104__20210104_z3RRbear7hUd"><ix:nonNumeric contextRef="From2021-01-04to2021-01-04" format="ixt:booleanfalse" name="dei:WrittenCommunications">&#168;</ix:nonNumeric></span></span></td>
    <td style="text-align: justify; font-size: 10pt"><span style="font-size: 10pt">Written communications pursuant to Rule 425
under the Securities Act (17 CFR 230.425)</span></td></tr>
<tr style="vertical-align: top">
    <td style="font-size: 10pt">&#160;</td>
    <td style="text-align: justify; font-size: 10pt">&#160;</td></tr>
<tr style="vertical-align: top">
    <td style="font-size: 10pt"><span style="font-family: Wingdings"><span id="xdx_90B_edei--SolicitingMaterial_c20210104__20210104_zIi2H9Q01I5g"><ix:nonNumeric contextRef="From2021-01-04to2021-01-04" format="ixt:booleanfalse" name="dei:SolicitingMaterial">&#168;</ix:nonNumeric></span></span></td>
    <td style="text-align: justify; font-size: 10pt"><span style="font-size: 10pt">Soliciting material pursuant to Rule 14a-12
under the Exchange Act (17 CFR 240.14a-12)</span></td></tr>
<tr style="vertical-align: top">
    <td style="font-size: 10pt">&#160;</td>
    <td style="text-align: justify; font-size: 10pt">&#160;</td></tr>
<tr style="vertical-align: top">
    <td style="font-size: 10pt"><span style="font-family: Wingdings"><span id="xdx_900_edei--PreCommencementTenderOffer_c20210104__20210104_zI2s8j2MGZy3"><ix:nonNumeric contextRef="From2021-01-04to2021-01-04" format="ixt:booleanfalse" name="dei:PreCommencementTenderOffer">&#168;</ix:nonNumeric></span></span></td>
    <td style="text-align: justify; font-size: 10pt"><span style="font-size: 10pt">Pre-commencement communications pursuant to
Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</span></td></tr>
<tr style="vertical-align: top">
    <td style="font-size: 10pt">&#160;</td>
    <td style="text-align: justify; font-size: 10pt">&#160;</td></tr>
<tr style="vertical-align: top">
    <td style="font-size: 10pt"><span style="font-family: Wingdings"><span id="xdx_903_edei--PreCommencementIssuerTenderOffer_c20210104__20210104_zA5kJcMFTm6b"><ix:nonNumeric contextRef="From2021-01-04to2021-01-04" format="ixt:booleanfalse" name="dei:PreCommencementIssuerTenderOffer">&#168;</ix:nonNumeric></span></span></td>
    <td style="text-align: justify; font-size: 10pt"><span style="font-size: 10pt">Pre-commencement communications pursuant to
Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</span></td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2pt; text-align: justify">Securities registered pursuant
to Section 12(b) of the Act:</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2pt; text-align: justify">&#160;</p>

<table cellspacing="0" cellpadding="0" style="font: 10pt/normal Times New Roman, Times, Serif; border-collapse: collapse; font-size-adjust: none; font-stretch: normal; width: 100%">
<tr style="vertical-align: top">
    <td style="border: black 1pt solid; padding: 3pt; border-image: none; width: 40%; text-align: center"><span style="font-size: 10pt"><b>Title of each class</b></span></td>
    <td style="border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 3pt; width: 20%; text-align: center"><span style="font-size: 10pt"><b>Trading Symbol(s)</b></span></td>
    <td style="border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 3pt; width: 40%; text-align: center"><span style="font-size: 10pt"><b>Name of each exchange on which registered</b></span></td></tr>
<tr style="vertical-align: top">
    <td style="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding: 3pt; text-align: center"><span style="font-size: 10pt"><span id="xdx_90D_edei--Security12bTitle_c20210104__20210104_zLph7RrNVIt4"><ix:nonNumeric contextRef="From2021-01-04to2021-01-04" name="dei:Security12bTitle">Common Stock, $.0001 par value</ix:nonNumeric></span></span></td>
    <td style="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 3pt; text-align: center"><span style="font-size: 10pt"><span id="xdx_908_edei--TradingSymbol_c20210104__20210104_zBsFQCqRR3w7"><ix:nonNumeric contextRef="From2021-01-04to2021-01-04" name="dei:TradingSymbol">ADC</ix:nonNumeric></span></span></td>
    <td style="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 3pt; text-align: center"><span style="font-size: 10pt"><span id="xdx_901_edei--SecurityExchangeName_c20210104__20210104_z2l0Bi3qUN2j"><ix:nonNumeric contextRef="From2021-01-04to2021-01-04" format="ixt-sec:exchnameen" name="dei:SecurityExchangeName">New York Stock Exchange</ix:nonNumeric></span></span></td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2pt">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt">Indicate by check mark whether the registrant is an
emerging growth company as defined in Rule 405 of the Securities Act of 1933 (&#167;230.405 of this chapter) or Rule 12b-2 of the
Securities Exchange Act of 1934 (&#167;240.12b-2 of this chapter).</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2pt">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2pt">Emerging growth company <span style="font-family: Wingdings"><span id="xdx_904_edei--EntityEmergingGrowthCompany_c20210104__20210104_zMVZU7APb4N3"><ix:nonNumeric contextRef="From2021-01-04to2021-01-04" format="ixt:booleanfalse" name="dei:EntityEmergingGrowthCompany">&#168;</ix:nonNumeric></span></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-bottom: 0pt">If an emerging growth company, indicate by check mark
if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting
standards provided pursuant to Section 13(a) of the Exchange Act. <span style="font-family: Wingdings">&#168;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>

<!-- Field: Rule-Page --><div style="margin-top: 3pt; margin-bottom: 12pt; width: 100%"><div style="border-top: Black 1pt solid; border-bottom: Black 2pt solid; font-size: 1pt">&#160;</div></div><!-- Field: /Rule-Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>

<!-- Field: Page; Sequence: 1 -->
    <div style="border-bottom: Black 1pt solid; margin-top: 12pt; margin-bottom: 6pt"><p style="margin: 0pt">&#160;</p></div>
    <div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div>
    <!-- Field: /Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>

<p style="margin: 0pt 0">&#160;</p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<tr style="vertical-align: top">
    <td style="width: 96px; font-size: 10pt"><span style="font: 10pt Times New Roman, Times, Serif"><b>Item 7.01.</b></span></td>
    <td style="font-size: 10pt"><span style="font: 10pt Times New Roman, Times, Serif"><b>Regulation FD Disclosure.</b></span></td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>&#160;</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white; color: #212529"><span style="font-family: Times New Roman, Times, Serif">On
January 4, 2021, Agree Realty Corporation (the &#8220;Company&#8221;) issued a press release announcing </span>the Company&#8217;s
investment and disposition activity for 2020, investment guidance for 2021, and updates on its portfolio and its fourth quarter
2020 capital markets activities.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white; color: #212529">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white; color: #212529">A
copy of the press release is furnished as Exhibit 99.1 to this report.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white; color: #212529">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white; color: #212529">The
Company has posted a copy of the press release in the Investors section of its website at www.agreerealty.com.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>&#160;</b></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"><tr style="vertical-align: top; text-align: justify">
<td style="width: 96px; text-align: left"><b>Item 8.01.</b></td><td style="text-align: justify"><b>Other Events.</b></td>
</tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">On
</span>January 4, 2021, the Company announced its weighted-average number of common shares outstanding for the three and twelve
months ended December 31, 2020. The following table computes the Company&#8217;s weighted-average number of common shares outstanding
for the periods:</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
<tr style="vertical-align: bottom">
    <td style="font-size: 10pt">&#160;</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&#160;</td>
    <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">Three Months<br />
 Ended</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&#160;</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&#160;</td>
    <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">Twelve Months<br />
 Ended</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&#160;</td></tr>
<tr style="vertical-align: bottom">
    <td style="font-size: 10pt">&#160;</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&#160;</td>
    <td colspan="2" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">December 31,<br />
 2020</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&#160;</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&#160;</td>
    <td colspan="2" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">December 31, <br />
2020</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&#160;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 68%; text-align: left">Weighted-average number of common shares outstanding</td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%">&#160;</td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">&#160;</td><td style="font: 10pt Times New Roman, Times, Serif; width: 12%; text-align: right">55,572,108</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">&#160;</td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%">&#160;</td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">&#160;</td><td style="font: 10pt Times New Roman, Times, Serif; width: 12%; text-align: right">52,013,137</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">&#160;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Less: Unvested restricted stock</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&#160;</td>
    <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">(174,918</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">)</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&#160;</td>
    <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">(174,918</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font: 10pt Times New Roman, Times, Serif; text-indent: -0.125in; padding-left: 0.125in; text-align: left">Weighted-average number of common shares outstanding used in basic earnings per share</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt">&#160;</td>
    <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">55,397,190</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left">&#160;</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt">&#160;</td>
    <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">51,838,219</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left">&#160;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt">&#160;</td><td style="font-size: 10pt">&#160;</td>
    <td style="font-size: 10pt; text-align: left">&#160;</td><td style="font-size: 10pt; text-align: right">&#160;</td><td style="font-size: 10pt; text-align: left">&#160;</td><td style="font-size: 10pt">&#160;</td>
    <td style="font-size: 10pt; text-align: left">&#160;</td><td style="font-size: 10pt; text-align: right">&#160;</td><td style="font-size: 10pt; text-align: left">&#160;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font: 10pt Times New Roman, Times, Serif; text-indent: -0.125in; padding-left: 0.125in; text-align: left">Weighted-average number of common shares outstanding used in basic earnings per share</td><td style="font: 10pt Times New Roman, Times, Serif">&#160;</td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">55,397,190</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</td><td style="font: 10pt Times New Roman, Times, Serif">&#160;</td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">51,838,219</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Effect of dilutive securities:</td><td style="font: 10pt Times New Roman, Times, Serif">&#160;</td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">&#160;</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</td><td style="font: 10pt Times New Roman, Times, Serif">&#160;</td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">&#160;</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="padding-left: 0.125in; font-size: 10pt; text-align: left">Share-based compensation</td><td style="font: 10pt Times New Roman, Times, Serif">&#160;</td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">93,263</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</td><td style="font: 10pt Times New Roman, Times, Serif">&#160;</td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">95,103</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="padding-left: 0.125in; font-size: 10pt; text-align: left">2019 ATM forward equity offerings</td><td style="font: 10pt Times New Roman, Times, Serif">&#160;</td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">-</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</td><td style="font: 10pt Times New Roman, Times, Serif">&#160;</td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">14,289</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="padding-left: 0.125in; font-size: 10pt; text-align: left">2020 ATM forward equity offerings</td><td style="font: 10pt Times New Roman, Times, Serif">&#160;</td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">28,304</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</td><td style="font: 10pt Times New Roman, Times, Serif">&#160;</td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">19,777</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="padding-left: 0.125in; font-size: 10pt; text-align: left">April 2020 forward equity offering</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&#160;</td>
    <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">545,001</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">&#160;</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&#160;</td>
    <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">429,346</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">&#160;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font: 10pt Times New Roman, Times, Serif; text-indent: -0.125in; padding-left: 0.125in; text-align: left">Weighted-average number of common shares outstanding used in diluted earnings per share</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt">&#160;</td>
    <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">56,063,758</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left">&#160;</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt">&#160;</td>
    <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">52,396,734</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left">&#160;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font-size: 10pt">&#160;</td><td style="font-size: 10pt">&#160;</td>
    <td style="font-size: 10pt; text-align: left">&#160;</td><td style="font-size: 10pt; text-align: right">&#160;</td><td style="font-size: 10pt; text-align: left">&#160;</td><td style="font-size: 10pt">&#160;</td>
    <td style="font-size: 10pt; text-align: left">&#160;</td><td style="font-size: 10pt; text-align: right">&#160;</td><td style="font-size: 10pt; text-align: left">&#160;</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font: 10pt Times New Roman, Times, Serif; text-indent: -0.125in; padding-left: 0.125in; text-align: left">Operating Partnership Units ("OP Units")</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&#160;</td>
    <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">347,619</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">&#160;</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&#160;</td>
    <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">347,619</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">&#160;</td></tr>
<tr style="vertical-align: bottom; background-color: White">
    <td style="font: 10pt Times New Roman, Times, Serif; text-indent: -0.125in; padding-left: 0.125in; text-align: left">Weighted-average number of common shares and OP Units outstanding used in diluted earnings per share</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt">&#160;</td>
    <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">56,411,377</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left">&#160;</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt">&#160;</td>
    <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">52,744,353</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left">&#160;</td></tr>
</table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">To account for the potential dilution resulting
from the 2019 ATM forward equity offerings, 2020 ATM forward equity offerings, and April 2020 forward equity offering on earnings
per share calculations, the Company used the treasury stock method to determine the dilution during the period of time prior to
settlement. The impact of the offerings on the Company&#8217;s weighted-average diluted shares for the three months ended December
31, 2020 was 573,305 weighted-average incremental shares. The impact of the offerings on the Company&#8217;s weighted-average diluted
shares for the twelve months ended December 31, 2020 was 463,412 weighted-average incremental shares.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p>

<!-- Field: Page; Sequence: 2 -->
    <div style="border-bottom: Black 1pt solid; margin-top: 12pt; margin-bottom: 6pt"><p style="margin: 0pt">&#160;</p></div>
    <div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div>
    <!-- Field: /Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"><tr style="vertical-align: top">
<td style="width: 96px"><b>Item 9.01.</b></td><td style="text-align: justify"><b>Financial Statements and Exhibits.</b></td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<tr style="vertical-align: top">
    <td style="width: 0px; text-align: justify">&#160;</td>
    <td style="width: 48px"><span style="font-size: 10pt">(d)</span></td>
    <td style="text-align: justify"><span style="font-size: 10pt">Exhibits</span></td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<tr style="vertical-align: top">
    <td style="width: 10%"><span style="font-size: 10pt"><span style="text-decoration: underline">Exhibit</span></span></td>
    <td style="width: 90%"><span style="font-size: 10pt"><span style="text-decoration: underline">Description</span></span></td></tr>
<tr style="vertical-align: top">
    <td>&#160;</td>
    <td>&#160;</td></tr>
<tr style="vertical-align: top">
    <td><a href="tm211535d1_ex99-1.htm" style="-sec-extract: exhibit"><span style="font-size: 10pt">99.1 </span></a></td>
    <td><a href="tm211535d1_ex99-1.htm" style="-sec-extract: exhibit">Press
release, dated January 4, 2021, entitled &#8220;Agree Realty Announces Record 2020 Investment Activity&#8221;.</a></td></tr>
<tr style="vertical-align: top">
    <td><span style="font-size: 10pt">104&#160;</span></td>
    <td><span style="font-size: 10pt">Cover Page Interactive Data File (embedded within the Inline XBRL document).&#160;</span></td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p>

<!-- Field: Page; Sequence: 3 -->
    <div style="border-bottom: Black 1pt solid; margin-top: 12pt; margin-bottom: 6pt"><p style="margin: 0pt">&#160;</p></div>
    <div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div>
    <!-- Field: /Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>SIGNATURES</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Pursuant to the requirements of the Securities
Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<table cellpadding="0" cellspacing="0" style="font-size: 10pt; border-collapse: collapse; width: 100%">
<tr style="font-size: 10pt; vertical-align: bottom">
    <td style="font: 10pt Times New Roman, Times, Serif">&#160;</td>
    <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: left">AGREE REALTY CORPORATION</td></tr>
<tr style="font-size: 10pt; vertical-align: bottom">
    <td style="font: 10pt Times New Roman, Times, Serif">&#160;</td>
    <td colspan="2" style="font-size: 10pt; text-align: left">&#160;</td></tr>
<tr style="font-size: 10pt; vertical-align: bottom">
    <td style="font: 10pt Times New Roman, Times, Serif">&#160;</td>
    <td colspan="2" style="font-size: 10pt; text-align: left">&#160;</td></tr>
<tr style="font-size: 10pt; vertical-align: bottom">
    <td style="font: 10pt Times New Roman, Times, Serif; width: 50%">Date: January 4, 2021</td>
    <td style="font: 10pt Times New Roman, Times, Serif; width: 5%; text-align: left">By:</td>
    <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; width: 45%; text-align: left">/s/ Clayton R. Thelen</td></tr>
<tr style="font-size: 10pt; vertical-align: bottom">
    <td style="font: 10pt Times New Roman, Times, Serif">&#160;</td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Clayton R. Thelen</td></tr>
<tr style="font-size: 10pt; vertical-align: bottom">
    <td style="font: 10pt Times New Roman, Times, Serif">&#160;</td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</td>
    <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Chief Financial Officer and Secretary</td></tr>
</table>


<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></p>

<!-- Field: Page; Sequence: 4; Options: Last -->
    <div style="border-bottom: Black 1pt solid; margin-top: 12pt; margin-bottom: 6pt"><p style="margin: 0pt">&#160;</p></div>
    <!-- Field: /Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&#160;</p>

</body>
</html>
<!-- Field: Set; Name: xdx; ID: xdx_08B_extensions -->
<!-- eJxFjdsKgkAQhp/Adxj2OvIQEXlXUhFZhEh0u+UYS7ojs2uHR+otW5VoGJjT/80vxEhsaK0qZDgvsxRyrJtKWoQMS2TUV3SKZLuLwdUMb8pYltr24w9MyDHomOk4uLh9r3wog0UMwcyPZn44d008CWGxF153T0iXqkBtlaxA6gKOTA0rtJLfw4dcvkhT/e6dTshGkY4hHAfD+QNREEZwoId8Et8NpGkivFEfntgwtU1n0xpLNawqrJ2XGdB/el/aVUkT -->
</XBRL>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>tm211535d1_ex99-1.htm
<DESCRIPTION>EXHIBIT 99.1
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="text-align: right; margin: 0"><B>Exhibit 99.1</B></P>

<P STYLE="margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD ROWSPAN="6" STYLE="text-align: left; width: 50%; vertical-align: bottom">
        <IMG SRC="tm211535d1_ex99-1img001.jpg" ALT=""><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P></TD>
    <TD STYLE="width: 50%; text-align: right; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">70 E. Long Lake Rd.</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: right; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Bloomfield Hills, MI 48304</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: right; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">www.agreerealty.com</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: right; font-size: 10pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: right; font-size: 10pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: right; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>FOR IMMEDIATE RELEASE</B></FONT></TD></TR>
</TABLE>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-variant: small-caps"><B>Agree
Realty Announces Record 2020 Investment Activity </B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-variant: small-caps"><I>Provides
2021 Investment Guidance and Capital Markets &amp; Portfolio Update</I></FONT></P>

<P STYLE="border-top: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Bloomfield Hills, MI, January 4, 2021 -- </B>Agree Realty
Corporation (NYSE: ADC) (the &ldquo;Company&rdquo;) today announced a summary of its record investment activity in 2020, provided
acquisition and disposition guidance for 2021, and provided an update on its fourth quarter 2020 capital markets activities as
well as December rent collections.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>2020 Investment &amp; Disposition Activity</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Total real estate investment activity for
2020, inclusive of acquisition, development, and Partner Capital Solutions projects completed or currently under construction,
amounted to a record of $1.36 billion. The properties are net leased to 47 industry-leading retail tenants operating across 20
sectors and are located in 40 states.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">During the twelve months ended December
31, 2020, the Company acquired 317 retail net lease properties for total acquisition volume of approximately $1.31 billion. The
acquisitions were completed at a weighted-average capitalization rate of 6.4% and had a weighted-average remaining lease term of
11.3 years. Approximately 83.6% of the annualized base rents acquired during the year were derived from investment grade retail
tenants. Approximately 12.2% of annualized base rents acquired during the year were derived from ground leased assets.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Additionally, during the same period, the
Company disposed of 17 assets for total gross proceeds of $49.4 million. The dispositions, which served to further diversify and
strengthen the Company&rsquo;s real estate portfolio, were completed at a weighted-average capitalization rate of 7.1%.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As of December 31, 2020, the Company&rsquo;s
portfolio generated over 67% of annualized base rents from investment grade retail tenants, representing an increase of more than
900 basis points since December 31, 2019. Properties ground leased to tenants accounted for more than 9% of annualized base rents.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>2021 Investment &amp; Disposition Outlook</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company&rsquo;s outlook for acquisition
volume in 2021, which includes several significant assumptions, is between $800 million and $1.0 billion of retail net lease properties.
The Company&rsquo;s disposition guidance for 2021 is between $25 million and $75 million.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Capital Markets Update</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On December 28, 2020, the Company settled
the remaining 4,651,666 shares of its common stock under the April 2020 forward equity offering to Cohen &amp; Steers, Inc. Upon
settlement, the Company received net proceeds of approximately $266.7 million.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">During the fourth quarter of 2020, the
Company entered into forward sale agreements in connection with its at-the-market equity program to sell an aggregate of 1,501,210
shares of common stock at an average gross price of $66.85 per share, representing anticipated net proceeds of approximately $98.2
million after deducting fees and expenses and making certain other adjustments as provided in the equity distribution agreements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">At year end, the Company had 3,129,982
shares remaining to be settled under existing forward sale agreements, which are anticipated to raise net proceeds of approximately
$203.2 million after deducting fees and expenses and making certain other adjustments as provided in the equity distribution agreements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<!-- Field: Page; Sequence: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The following table presents the Company&rsquo;s
outstanding forward equity offerings as of December 31, 2020:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold">Forward Equity<BR>
 Offerings</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid">Shares<BR>
 Sold</TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid">Shares<BR>
 Settled</TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid">Shares<BR>
 Remaining <BR>
to Settle</TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid">Net<BR>
 Proceeds <BR>
Received</TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid">Anticipated <BR>
Net <BR>
Proceeds<BR>
 Remaining</TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 26%; font-size: 10pt; text-align: left">Q2 2020 ATM Forward Offerings</TD><TD STYLE="width: 2%; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="width: 12%; font: 10pt Times New Roman, Times, Serif; text-align: right">742,860</TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="width: 12%; font: 10pt Times New Roman, Times, Serif; text-align: right">-</TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="width: 12%; font: 10pt Times New Roman, Times, Serif; text-align: right">742,860</TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="width: 12%; font: 10pt Times New Roman, Times, Serif; text-align: right">-</TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="width: 10%; font: 10pt Times New Roman, Times, Serif; text-align: right">47,255,448</TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left">Q3 2020 ATM Forward Offerings</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">885,912</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">-</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">885,912</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">-</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">57,737,161</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left; padding-bottom: 1pt">Q4 2020 ATM Forward Offerings</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">1,501,210</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">-</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">1,501,210</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">-</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">98,218,182</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: left">Total Forward Equity Offerings</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right">3,129,982</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right">-</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right">3,129,982</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">-</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: right">203,210,791</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>December Rent Collections Update</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 183.75pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As of December 31, 2020, the Company has
received December rent payments from 99% of its portfolio and entered into deferral agreements with tenants representing less than
1% of December rents. December marks the fourth consecutive month the Company has received 99% of all contractual monthly rental
obligations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>CEO Comments</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&ldquo;We are extremely pleased to have
completed a historic and extraordinary year of record investment activity,&rdquo; said Joey Agree, President and Chief Executive
Officer. &ldquo;I couldn&rsquo;t be more pleased with the tremendous effort put forth by this fantastic team of professionals amidst
the most challenging of circumstances. Our Company has never been better positioned to deliver superior risk-adjusted returns to
our shareholders, while rethinking how retail is conducted in a post-pandemic omni-channel world. We look forward to continuing
our mission in 2021 of building the highest quality real estate portfolio in the industry.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>About Agree Realty Corporation</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Agree Realty Corporation is a publicly
traded real estate investment trust primarily engaged in the acquisition and development of properties net leased to industry-leading
retail tenants. As of December 31, 2020, the Company owned and operated a portfolio of 1,129 properties, located in 46 states
and containing approximately 22.7 million square feet of gross leasable space. The Company&rsquo;s common stock is listed on the
New York Stock Exchange under the symbol &ldquo;ADC&rdquo;. For additional information, please visit <U>www.agreerealty.com</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B></B></P>

<!-- Field: Page; Sequence: 2; Options: NewSection; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="font-size: 10pt; text-align: right; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->2<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Forward-Looking Statements</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>This press release contains forward-looking
statements, including statements about projected financial and operating results, within the meaning of Section 27A of the Securities
Act of 1933, as amended (the &ldquo;Securities Act&rdquo;) and Section 21E of the Securities Exchange Act of 1934, as amended (the
 &ldquo;Exchange Act&rdquo;). The Company intends such forward-looking statements to be covered by the safe harbor provisions for
forward-looking statements contained in the Private Securities Litigation Reform Act of 1995 and includes this statement for purposes
of complying with these safe harbor provisions. Forward-looking statements are generally identifiable by use of forward-looking
terminology such as &ldquo;may,&rdquo; &ldquo;will,&rdquo; &ldquo;should,&rdquo; &ldquo;potential,&rdquo; &ldquo;intend,&rdquo;
 &ldquo;expect,&rdquo; &ldquo;seek,&rdquo; &ldquo;anticipate,&rdquo; &ldquo;estimate,&rdquo; &ldquo;approximately,&rdquo; &ldquo;believe,&rdquo;
 &ldquo;could,&rdquo; &ldquo;project,&rdquo; &ldquo;predict,&rdquo; &ldquo;forecast,&rdquo; &ldquo;continue,&rdquo; &ldquo;assume,&rdquo;
 &ldquo;plan,&rdquo; &ldquo;outlook&rdquo; or other similar words or expressions. Forward-looking statements are based on certain
assumptions and can include future expectations, future plans and strategies, financial and operating projections or other forward-looking
information. Although these forward-looking statements are based on good faith beliefs, reasonable assumptions and the Company&rsquo;s
best judgment reflecting current information, you should not rely on forward-looking statements since they involve known and unknown
risks, uncertainties and other factors which are, in some cases, beyond the Company&rsquo;s control and which could materially
affect the Company&rsquo;s results of operations, financial condition, cash flows, performance or future achievements or events.
Currently, one of the most significant factors, however, is the potential adverse effect of the current pandemic of the novel coronavirus,
or COVID-19, on the financial condition, results of operations, cash flows and performance of the Company and its tenants, the
real estate market and the global economy and financial markets. The extent to which COVID-19 impacts the Company and its tenants
will depend on future developments, which are highly uncertain and cannot be predicted with confidence, including the scope, severity
and duration of the pandemic, the actions taken to contain the pandemic or mitigate its impact and the direct and indirect economic
effects of the pandemic and containment measures, among others. Moreover, investors are cautioned to interpret many of the risks
identified in the risk factors discussed in the Company&rsquo;s Annual Report on Form 10-K for the year ended December 31, 2019
and other filings with the Securities and Exchange Commission (the &ldquo;SEC&rdquo;), including the Company&rsquo;s Quarterly
Report on Form 10-Q for the period ended September 30, 2020, as well as the risks set forth below, as being heightened as a result
of the ongoing and numerous adverse impacts of COVID-19. Additional important factors, among others, that may cause the Company&rsquo;s
actual results to vary include the general deterioration in national economic conditions, weakening of real estate markets, decreases
in the availability of credit, increases in interest rates, adverse changes in the retail industry, the Company&rsquo;s continuing
ability to qualify as a REIT and other factors discussed in the Company&rsquo;s reports filed with the SEC. The forward-looking
statements included in this press release are made as of the date hereof. Unless legally required, the Company disclaims any obligation
to update any forward-looking statements, whether as a result of new information, future events, changes in the Company&rsquo;s
expectations or assumptions or otherwise. </I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>For further information about the Company&rsquo;s
business and financial results, please refer to the &ldquo;Management&rsquo;s Discussion and Analysis of Financial Condition and
Results of Operations&rdquo; and &ldquo;Risk Factors&rdquo; sections of the Company&rsquo;s SEC filings, including, but not limited
to, its Annual Report on Form 10-K and Quarterly Reports on Form 10-Q, copies of which may be obtained at the Investor Relations
section of the Company&rsquo;s website at <U>www.agreerealty.com</U>. </I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>The Company defines the &ldquo;weighted-average
capitalization rate&rdquo; for acquisitions and dispositions as the sum of contractual fixed annual rents computed on a straight-line
basis over the primary lease terms and anticipated annual net tenant recoveries, divided by the purchase and sale prices.</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">###</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Contact:</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Clay Thelen</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Chief Financial Officer</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Agree Realty Corporation</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(248) 737-4190</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<!-- Field: Page; Sequence: 3; Options: Last -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="font-size: 10pt; text-align: right; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->3<!-- Field: /Sequence --></P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-101.SCH
<SEQUENCE>3
<FILENAME>adc-20210104.xsd
<DESCRIPTION>XBRL TAXONOMY EXTENSION SCHEMA
<TEXT>
<XBRL>
<?xml version="1.0" encoding="US-ASCII" ?>
    <!-- Field: Doc-Info; Name: Generator; Value: GoFiler Complete; Version: 5.6a -->
    <!-- Field: Doc-Info; Name: VendorURI; Value: http://www.novaworks.com -->
    <!-- Field: Doc-Info; Name: Status; Value: 0x00000000 -->
    <!-- Field: Doc-Info; Name: Misc; Value: +K85w7xRiXgen8uNbXAsWa+KObPtzp5xqekhuWh6bQmaLycq9688RimAvKFmEfcN -->
<schema xmlns="http://www.w3.org/2001/XMLSchema" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:link="http://www.xbrl.org/2003/linkbase" xmlns:xbrli="http://www.xbrl.org/2003/instance" xmlns:xbrldt="http://xbrl.org/2005/xbrldt" xmlns:xbrldi="http://xbrl.org/2006/xbrldi" xmlns:dei="http://xbrl.sec.gov/dei/2020-01-31" xmlns:us-gaap="http://fasb.org/us-gaap/2020-01-31" xmlns:srt="http://fasb.org/srt/2020-01-31" xmlns:srt-types="http://fasb.org/srt-types/2020-01-31" xmlns:adc="http://agreerealty.com/20210104" elementFormDefault="qualified" targetNamespace="http://agreerealty.com/20210104">
    <annotation>
      <appinfo>
	<link:roleType roleURI="http://agreerealty.com/role/Cover" id="Cover">
	  <link:definition>00000001 - Document - Cover</link:definition>
	  <link:usedOn>link:presentationLink</link:usedOn>
	  <link:usedOn>link:calculationLink</link:usedOn>
	  <link:usedOn>link:definitionLink</link:usedOn>
	</link:roleType>
	<link:linkbaseRef xlink:type="simple" xlink:href="adc-20210104_pre.xml" xlink:role="http://www.xbrl.org/2003/role/presentationLinkbaseRef" xlink:arcrole="http://www.w3.org/1999/xlink/properties/linkbase" xlink:title="Presentation Links" />
	<link:linkbaseRef xlink:type="simple" xlink:href="adc-20210104_lab.xml" xlink:role="http://www.xbrl.org/2003/role/labelLinkbaseRef" xlink:arcrole="http://www.w3.org/1999/xlink/properties/linkbase" xlink:title="Label Links" />
      </appinfo>
    </annotation>
    <import namespace="http://www.xbrl.org/2003/instance" schemaLocation="http://www.xbrl.org/2003/xbrl-instance-2003-12-31.xsd" />
    <import namespace="http://www.xbrl.org/2003/linkbase" schemaLocation="http://www.xbrl.org/2003/xbrl-linkbase-2003-12-31.xsd" />
    <import namespace="http://xbrl.sec.gov/dei/2020-01-31" schemaLocation="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd" />
    <import namespace="http://fasb.org/us-gaap/2020-01-31" schemaLocation="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd" />
    <import namespace="http://fasb.org/us-types/2020-01-31" schemaLocation="http://xbrl.fasb.org/us-gaap/2020/elts/us-types-2020-01-31.xsd" />
    <import namespace="http://www.xbrl.org/dtr/type/non-numeric" schemaLocation="http://www.xbrl.org/dtr/type/nonNumeric-2009-12-16.xsd" />
    <import namespace="http://www.xbrl.org/dtr/type/numeric" schemaLocation="http://www.xbrl.org/dtr/type/numeric-2009-12-16.xsd" />
    <import namespace="http://xbrl.sec.gov/country/2020-01-31" schemaLocation="https://xbrl.sec.gov/country/2020/country-2020-01-31.xsd" />
    <import namespace="http://fasb.org/srt/2020-01-31" schemaLocation="http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd" />
    <import namespace="http://fasb.org/srt-types/2020-01-31" schemaLocation="http://xbrl.fasb.org/srt/2020/elts/srt-types-2020-01-31.xsd" />
</schema>
</XBRL>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-101.LAB
<SEQUENCE>4
<FILENAME>adc-20210104_lab.xml
<DESCRIPTION>XBRL TAXONOMY EXTENSION LABEL LINKBASE
<TEXT>
<XBRL>
<?xml version="1.0" encoding="US-ASCII" standalone="no"?>
    <!-- Field: Doc-Info; Name: Generator; Value: GoFiler Complete; Version: 5.6a -->
    <!-- Field: Doc-Info; Name: VendorURI; Value: http://www.novaworks.com -->
    <!-- Field: Doc-Info; Name: Status; Value: 0x00000000 -->
<link:linkbase xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:link="http://www.xbrl.org/2003/linkbase" xmlns:xbrli="http://www.xbrl.org/2003/instance" xsi:schemaLocation="http://www.xbrl.org/2003/linkbase http://www.xbrl.org/2003/xbrl-linkbase-2003-12-31.xsd">
    <link:roleRef xlink:type="simple" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedLabel" roleURI="http://www.xbrl.org/2009/role/negatedLabel" />
    <link:roleRef xlink:type="simple" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedPeriodEndLabel" roleURI="http://www.xbrl.org/2009/role/negatedPeriodEndLabel" />
    <link:roleRef xlink:type="simple" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedPeriodStartLabel" roleURI="http://www.xbrl.org/2009/role/negatedPeriodStartLabel" />
    <link:roleRef xlink:type="simple" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedTotalLabel" roleURI="http://www.xbrl.org/2009/role/negatedTotalLabel" />
    <link:roleRef xlink:type="simple" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedNetLabel" roleURI="http://www.xbrl.org/2009/role/negatedNetLabel" />
    <link:roleRef xlink:type="simple" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedTerseLabel" roleURI="http://www.xbrl.org/2009/role/negatedTerseLabel" />
    <link:roleRef xlink:type="simple" xlink:href="http://www.xbrl.org/lrr/role/net-2009-12-16.xsd#netLabel" roleURI="http://www.xbrl.org/2009/role/netLabel" />
    <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_CoverAbstract" xlink:label="dei_CoverAbstract" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_CoverAbstract" xlink:to="dei_CoverAbstract_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_CoverAbstract_lbl" xml:lang="en-US">Cover [Abstract]</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_DocumentType" xlink:label="dei_DocumentType" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentType" xlink:to="dei_DocumentType_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_DocumentType_lbl" xml:lang="en-US">Document Type</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_AmendmentFlag" xlink:label="dei_AmendmentFlag" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_AmendmentFlag" xlink:to="dei_AmendmentFlag_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_AmendmentFlag_lbl" xml:lang="en-US">Amendment Flag</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_AmendmentDescription" xlink:label="dei_AmendmentDescription" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_AmendmentDescription" xlink:to="dei_AmendmentDescription_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_AmendmentDescription_lbl" xml:lang="en-US">Amendment Description</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_DocumentRegistrationStatement" xlink:label="dei_DocumentRegistrationStatement" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentRegistrationStatement" xlink:to="dei_DocumentRegistrationStatement_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_DocumentRegistrationStatement_lbl" xml:lang="en-US">Document Registration Statement</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_DocumentAnnualReport" xlink:label="dei_DocumentAnnualReport" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentAnnualReport" xlink:to="dei_DocumentAnnualReport_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_DocumentAnnualReport_lbl" xml:lang="en-US">Document Annual Report</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_DocumentQuarterlyReport" xlink:label="dei_DocumentQuarterlyReport" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentQuarterlyReport" xlink:to="dei_DocumentQuarterlyReport_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_DocumentQuarterlyReport_lbl" xml:lang="en-US">Document Quarterly Report</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_DocumentTransitionReport" xlink:label="dei_DocumentTransitionReport" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentTransitionReport" xlink:to="dei_DocumentTransitionReport_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_DocumentTransitionReport_lbl" xml:lang="en-US">Document Transition Report</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_DocumentShellCompanyReport" xlink:label="dei_DocumentShellCompanyReport" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentShellCompanyReport" xlink:to="dei_DocumentShellCompanyReport_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_DocumentShellCompanyReport_lbl" xml:lang="en-US">Document Shell Company Report</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_DocumentShellCompanyEventDate" xlink:label="dei_DocumentShellCompanyEventDate" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentShellCompanyEventDate" xlink:to="dei_DocumentShellCompanyEventDate_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_DocumentShellCompanyEventDate_lbl" xml:lang="en-US">Document Shell Company Event Date</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_DocumentPeriodStartDate" xlink:label="dei_DocumentPeriodStartDate" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentPeriodStartDate" xlink:to="dei_DocumentPeriodStartDate_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_DocumentPeriodStartDate_lbl" xml:lang="en-US">Document Period Start Date</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_DocumentPeriodEndDate" xlink:label="dei_DocumentPeriodEndDate" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentPeriodEndDate" xlink:to="dei_DocumentPeriodEndDate_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_DocumentPeriodEndDate_lbl" xml:lang="en-US">Document Period End Date</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_DocumentFiscalPeriodFocus" xlink:label="dei_DocumentFiscalPeriodFocus" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentFiscalPeriodFocus" xlink:to="dei_DocumentFiscalPeriodFocus_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_DocumentFiscalPeriodFocus_lbl" xml:lang="en-US">Document Fiscal Period Focus</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_DocumentFiscalYearFocus" xlink:label="dei_DocumentFiscalYearFocus" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentFiscalYearFocus" xlink:to="dei_DocumentFiscalYearFocus_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_DocumentFiscalYearFocus_lbl" xml:lang="en-US">Document Fiscal Year Focus</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_CurrentFiscalYearEndDate" xlink:label="dei_CurrentFiscalYearEndDate" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_CurrentFiscalYearEndDate" xlink:to="dei_CurrentFiscalYearEndDate_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_CurrentFiscalYearEndDate_lbl" xml:lang="en-US">Current Fiscal Year End Date</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_EntityFileNumber" xlink:label="dei_EntityFileNumber" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityFileNumber" xlink:to="dei_EntityFileNumber_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityFileNumber_lbl" xml:lang="en-US">Entity File Number</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_EntityRegistrantName" xlink:label="dei_EntityRegistrantName" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityRegistrantName" xlink:to="dei_EntityRegistrantName_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityRegistrantName_lbl" xml:lang="en-US">Entity Registrant Name</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_EntityCentralIndexKey" xlink:label="dei_EntityCentralIndexKey" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityCentralIndexKey" xlink:to="dei_EntityCentralIndexKey_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityCentralIndexKey_lbl" xml:lang="en-US">Entity Central Index Key</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_EntityPrimarySicNumber" xlink:label="dei_EntityPrimarySicNumber" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityPrimarySicNumber" xlink:to="dei_EntityPrimarySicNumber_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityPrimarySicNumber_lbl" xml:lang="en-US">Entity Primary SIC Number</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_EntityTaxIdentificationNumber" xlink:label="dei_EntityTaxIdentificationNumber" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityTaxIdentificationNumber" xlink:to="dei_EntityTaxIdentificationNumber_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityTaxIdentificationNumber_lbl" xml:lang="en-US">Entity Tax Identification Number</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_EntityIncorporationStateCountryCode" xlink:label="dei_EntityIncorporationStateCountryCode" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityIncorporationStateCountryCode" xlink:to="dei_EntityIncorporationStateCountryCode_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityIncorporationStateCountryCode_lbl" xml:lang="en-US">Entity Incorporation, State or Country Code</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_EntityAddressAddressLine1" xlink:label="dei_EntityAddressAddressLine1" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityAddressAddressLine1" xlink:to="dei_EntityAddressAddressLine1_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityAddressAddressLine1_lbl" xml:lang="en-US">Entity Address, Address Line One</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_EntityAddressAddressLine2" xlink:label="dei_EntityAddressAddressLine2" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityAddressAddressLine2" xlink:to="dei_EntityAddressAddressLine2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityAddressAddressLine2_lbl" xml:lang="en-US">Entity Address, Address Line Two</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_EntityAddressAddressLine3" xlink:label="dei_EntityAddressAddressLine3" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityAddressAddressLine3" xlink:to="dei_EntityAddressAddressLine3_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityAddressAddressLine3_lbl" xml:lang="en-US">Entity Address, Address Line Three</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_EntityAddressCityOrTown" xlink:label="dei_EntityAddressCityOrTown" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityAddressCityOrTown" xlink:to="dei_EntityAddressCityOrTown_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityAddressCityOrTown_lbl" xml:lang="en-US">Entity Address, City or Town</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_EntityAddressStateOrProvince" xlink:label="dei_EntityAddressStateOrProvince" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityAddressStateOrProvince" xlink:to="dei_EntityAddressStateOrProvince_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityAddressStateOrProvince_lbl" xml:lang="en-US">Entity Address, State or Province</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_EntityAddressCountry" xlink:label="dei_EntityAddressCountry" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityAddressCountry" xlink:to="dei_EntityAddressCountry_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityAddressCountry_lbl" xml:lang="en-US">Entity Address, Country</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_EntityAddressPostalZipCode" xlink:label="dei_EntityAddressPostalZipCode" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityAddressPostalZipCode" xlink:to="dei_EntityAddressPostalZipCode_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityAddressPostalZipCode_lbl" xml:lang="en-US">Entity Address, Postal Zip Code</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_CountryRegion" xlink:label="dei_CountryRegion" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_CountryRegion" xlink:to="dei_CountryRegion_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_CountryRegion_lbl" xml:lang="en-US">Country Region</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_CityAreaCode" xlink:label="dei_CityAreaCode" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_CityAreaCode" xlink:to="dei_CityAreaCode_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_CityAreaCode_lbl" xml:lang="en-US">City Area Code</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_LocalPhoneNumber" xlink:label="dei_LocalPhoneNumber" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_LocalPhoneNumber" xlink:to="dei_LocalPhoneNumber_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_LocalPhoneNumber_lbl" xml:lang="en-US">Local Phone Number</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_Extension" xlink:label="dei_Extension" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_Extension" xlink:to="dei_Extension_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_Extension_lbl" xml:lang="en-US">Extension</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_WrittenCommunications" xlink:label="dei_WrittenCommunications" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_WrittenCommunications" xlink:to="dei_WrittenCommunications_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_WrittenCommunications_lbl" xml:lang="en-US">Written Communications</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_SolicitingMaterial" xlink:label="dei_SolicitingMaterial" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_SolicitingMaterial" xlink:to="dei_SolicitingMaterial_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_SolicitingMaterial_lbl" xml:lang="en-US">Soliciting Material</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_PreCommencementTenderOffer" xlink:label="dei_PreCommencementTenderOffer" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_PreCommencementTenderOffer" xlink:to="dei_PreCommencementTenderOffer_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_PreCommencementTenderOffer_lbl" xml:lang="en-US">Pre-commencement Tender Offer</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_PreCommencementIssuerTenderOffer" xlink:label="dei_PreCommencementIssuerTenderOffer" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_PreCommencementIssuerTenderOffer" xlink:to="dei_PreCommencementIssuerTenderOffer_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_PreCommencementIssuerTenderOffer_lbl" xml:lang="en-US">Pre-commencement Issuer Tender Offer</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_Security12bTitle" xlink:label="dei_Security12bTitle" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_Security12bTitle" xlink:to="dei_Security12bTitle_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_Security12bTitle_lbl" xml:lang="en-US">Title of 12(b) Security</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_NoTradingSymbolFlag" xlink:label="dei_NoTradingSymbolFlag" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_NoTradingSymbolFlag" xlink:to="dei_NoTradingSymbolFlag_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_NoTradingSymbolFlag_lbl" xml:lang="en-US">No Trading Symbol Flag</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_TradingSymbol" xlink:label="dei_TradingSymbol" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_TradingSymbol" xlink:to="dei_TradingSymbol_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_TradingSymbol_lbl" xml:lang="en-US">Trading Symbol</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_SecurityExchangeName" xlink:label="dei_SecurityExchangeName" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_SecurityExchangeName" xlink:to="dei_SecurityExchangeName_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_SecurityExchangeName_lbl" xml:lang="en-US">Security Exchange Name</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_Security12gTitle" xlink:label="dei_Security12gTitle" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_Security12gTitle" xlink:to="dei_Security12gTitle_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_Security12gTitle_lbl" xml:lang="en-US">Title of 12(g) Security</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_SecurityReportingObligation" xlink:label="dei_SecurityReportingObligation" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_SecurityReportingObligation" xlink:to="dei_SecurityReportingObligation_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_SecurityReportingObligation_lbl" xml:lang="en-US">Security Reporting Obligation</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_AnnualInformationForm" xlink:label="dei_AnnualInformationForm" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_AnnualInformationForm" xlink:to="dei_AnnualInformationForm_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_AnnualInformationForm_lbl" xml:lang="en-US">Annual Information Form</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_AuditedAnnualFinancialStatements" xlink:label="dei_AuditedAnnualFinancialStatements" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_AuditedAnnualFinancialStatements" xlink:to="dei_AuditedAnnualFinancialStatements_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_AuditedAnnualFinancialStatements_lbl" xml:lang="en-US">Audited Annual Financial Statements</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_EntityWellKnownSeasonedIssuer" xlink:label="dei_EntityWellKnownSeasonedIssuer" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityWellKnownSeasonedIssuer" xlink:to="dei_EntityWellKnownSeasonedIssuer_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityWellKnownSeasonedIssuer_lbl" xml:lang="en-US">Entity Well-known Seasoned Issuer</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_EntityVoluntaryFilers" xlink:label="dei_EntityVoluntaryFilers" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityVoluntaryFilers" xlink:to="dei_EntityVoluntaryFilers_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityVoluntaryFilers_lbl" xml:lang="en-US">Entity Voluntary Filers</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_EntityCurrentReportingStatus" xlink:label="dei_EntityCurrentReportingStatus" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityCurrentReportingStatus" xlink:to="dei_EntityCurrentReportingStatus_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityCurrentReportingStatus_lbl" xml:lang="en-US">Entity Current Reporting Status</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_EntityInteractiveDataCurrent" xlink:label="dei_EntityInteractiveDataCurrent" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityInteractiveDataCurrent" xlink:to="dei_EntityInteractiveDataCurrent_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityInteractiveDataCurrent_lbl" xml:lang="en-US">Entity Interactive Data Current</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_EntityFilerCategory" xlink:label="dei_EntityFilerCategory" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityFilerCategory" xlink:to="dei_EntityFilerCategory_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityFilerCategory_lbl" xml:lang="en-US">Entity Filer Category</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_EntitySmallBusiness" xlink:label="dei_EntitySmallBusiness" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntitySmallBusiness" xlink:to="dei_EntitySmallBusiness_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntitySmallBusiness_lbl" xml:lang="en-US">Entity Small Business</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_EntityEmergingGrowthCompany" xlink:label="dei_EntityEmergingGrowthCompany" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityEmergingGrowthCompany" xlink:to="dei_EntityEmergingGrowthCompany_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityEmergingGrowthCompany_lbl" xml:lang="en-US">Entity Emerging Growth Company</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_EntityExTransitionPeriod" xlink:label="dei_EntityExTransitionPeriod" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityExTransitionPeriod" xlink:to="dei_EntityExTransitionPeriod_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityExTransitionPeriod_lbl" xml:lang="en-US">Elected Not To Use the Extended Transition Period</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_DocumentAccountingStandard" xlink:label="dei_DocumentAccountingStandard" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentAccountingStandard" xlink:to="dei_DocumentAccountingStandard_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_DocumentAccountingStandard_lbl" xml:lang="en-US">Document Accounting Standard</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_OtherReportingStandardItemNumber" xlink:label="dei_OtherReportingStandardItemNumber" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_OtherReportingStandardItemNumber" xlink:to="dei_OtherReportingStandardItemNumber_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_OtherReportingStandardItemNumber_lbl" xml:lang="en-US">Other Reporting Standard Item Number</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_EntityShellCompany" xlink:label="dei_EntityShellCompany" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityShellCompany" xlink:to="dei_EntityShellCompany_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityShellCompany_lbl" xml:lang="en-US">Entity Shell Company</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_EntityPublicFloat" xlink:label="dei_EntityPublicFloat" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityPublicFloat" xlink:to="dei_EntityPublicFloat_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityPublicFloat_lbl" xml:lang="en-US">Entity Public Float</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_EntityBankruptcyProceedingsReportingCurrent" xlink:label="dei_EntityBankruptcyProceedingsReportingCurrent" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityBankruptcyProceedingsReportingCurrent" xlink:to="dei_EntityBankruptcyProceedingsReportingCurrent_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityBankruptcyProceedingsReportingCurrent_lbl" xml:lang="en-US">Entity Bankruptcy Proceedings, Reporting Current</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_EntityCommonStockSharesOutstanding" xlink:label="dei_EntityCommonStockSharesOutstanding" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityCommonStockSharesOutstanding" xlink:to="dei_EntityCommonStockSharesOutstanding_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityCommonStockSharesOutstanding_lbl" xml:lang="en-US">Entity Common Stock, Shares Outstanding</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_DocumentsIncorporatedByReferenceTextBlock" xlink:label="dei_DocumentsIncorporatedByReferenceTextBlock" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentsIncorporatedByReferenceTextBlock" xlink:to="dei_DocumentsIncorporatedByReferenceTextBlock_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_DocumentsIncorporatedByReferenceTextBlock_lbl" xml:lang="en-US">Documents Incorporated by Reference [Text Block]</link:label>
    </link:labelLink>
</link:linkbase>
</XBRL>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-101.PRE
<SEQUENCE>5
<FILENAME>adc-20210104_pre.xml
<DESCRIPTION>XBRL TAXONOMY EXTENSION PRESENTATION LINKBASE
<TEXT>
<XBRL>
<?xml version="1.0" encoding="US-ASCII" standalone="no"?>
    <!-- Field: Doc-Info; Name: Generator; Value: GoFiler Complete; Version: 5.6a -->
    <!-- Field: Doc-Info; Name: VendorURI; Value: http://www.novaworks.com -->
    <!-- Field: Doc-Info; Name: Status; Value: 0x00000000 -->
<link:linkbase xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:link="http://www.xbrl.org/2003/linkbase" xmlns:xbrli="http://www.xbrl.org/2003/instance" xsi:schemaLocation="http://www.xbrl.org/2003/linkbase http://www.xbrl.org/2003/xbrl-linkbase-2003-12-31.xsd">
    <link:roleRef roleURI="http://agreerealty.com/role/Cover" xlink:href="adc-20210104.xsd#Cover" xlink:type="simple" />
    <link:presentationLink xlink:type="extended" xlink:role="http://agreerealty.com/role/Cover" xlink:title="00000001 - Document - Cover">
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_CoverAbstract" xlink:label="loc_deiCoverAbstract" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_DocumentType" xlink:label="loc_deiDocumentType" />
      <link:presentationArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiDocumentType" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_AmendmentFlag" xlink:label="loc_deiAmendmentFlag" />
      <link:presentationArc order="10" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiAmendmentFlag" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_AmendmentDescription" xlink:label="loc_deiAmendmentDescription" />
      <link:presentationArc order="20" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiAmendmentDescription" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_DocumentRegistrationStatement" xlink:label="loc_deiDocumentRegistrationStatement" />
      <link:presentationArc order="30" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiDocumentRegistrationStatement" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_DocumentAnnualReport" xlink:label="loc_deiDocumentAnnualReport" />
      <link:presentationArc order="40" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiDocumentAnnualReport" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_DocumentQuarterlyReport" xlink:label="loc_deiDocumentQuarterlyReport" />
      <link:presentationArc order="50" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiDocumentQuarterlyReport" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_DocumentTransitionReport" xlink:label="loc_deiDocumentTransitionReport" />
      <link:presentationArc order="60" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiDocumentTransitionReport" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_DocumentShellCompanyReport" xlink:label="loc_deiDocumentShellCompanyReport" />
      <link:presentationArc order="70" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiDocumentShellCompanyReport" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_DocumentShellCompanyEventDate" xlink:label="loc_deiDocumentShellCompanyEventDate" />
      <link:presentationArc order="80" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiDocumentShellCompanyEventDate" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_DocumentPeriodStartDate" xlink:label="loc_deiDocumentPeriodStartDate" />
      <link:presentationArc order="90" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiDocumentPeriodStartDate" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_DocumentPeriodEndDate" xlink:label="loc_deiDocumentPeriodEndDate" />
      <link:presentationArc order="100" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiDocumentPeriodEndDate" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_DocumentFiscalPeriodFocus" xlink:label="loc_deiDocumentFiscalPeriodFocus" />
      <link:presentationArc order="110" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiDocumentFiscalPeriodFocus" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_DocumentFiscalYearFocus" xlink:label="loc_deiDocumentFiscalYearFocus" />
      <link:presentationArc order="120" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiDocumentFiscalYearFocus" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_CurrentFiscalYearEndDate" xlink:label="loc_deiCurrentFiscalYearEndDate" />
      <link:presentationArc order="130" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiCurrentFiscalYearEndDate" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_EntityFileNumber" xlink:label="loc_deiEntityFileNumber" />
      <link:presentationArc order="140" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiEntityFileNumber" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_EntityRegistrantName" xlink:label="loc_deiEntityRegistrantName" />
      <link:presentationArc order="150" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiEntityRegistrantName" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_EntityCentralIndexKey" xlink:label="loc_deiEntityCentralIndexKey" />
      <link:presentationArc order="160" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiEntityCentralIndexKey" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_EntityPrimarySicNumber" xlink:label="loc_deiEntityPrimarySicNumber" />
      <link:presentationArc order="170" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiEntityPrimarySicNumber" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_EntityTaxIdentificationNumber" xlink:label="loc_deiEntityTaxIdentificationNumber" />
      <link:presentationArc order="180" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiEntityTaxIdentificationNumber" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_EntityIncorporationStateCountryCode" xlink:label="loc_deiEntityIncorporationStateCountryCode" />
      <link:presentationArc order="190" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiEntityIncorporationStateCountryCode" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_EntityAddressAddressLine1" xlink:label="loc_deiEntityAddressAddressLine1" />
      <link:presentationArc order="200" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiEntityAddressAddressLine1" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_EntityAddressAddressLine2" xlink:label="loc_deiEntityAddressAddressLine2" />
      <link:presentationArc order="210" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiEntityAddressAddressLine2" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_EntityAddressAddressLine3" xlink:label="loc_deiEntityAddressAddressLine3" />
      <link:presentationArc order="220" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiEntityAddressAddressLine3" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_EntityAddressCityOrTown" xlink:label="loc_deiEntityAddressCityOrTown" />
      <link:presentationArc order="230" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiEntityAddressCityOrTown" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_EntityAddressStateOrProvince" xlink:label="loc_deiEntityAddressStateOrProvince" />
      <link:presentationArc order="240" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiEntityAddressStateOrProvince" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_EntityAddressCountry" xlink:label="loc_deiEntityAddressCountry" />
      <link:presentationArc order="250" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiEntityAddressCountry" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_EntityAddressPostalZipCode" xlink:label="loc_deiEntityAddressPostalZipCode" />
      <link:presentationArc order="260" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiEntityAddressPostalZipCode" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_CountryRegion" xlink:label="loc_deiCountryRegion" />
      <link:presentationArc order="270" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiCountryRegion" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_CityAreaCode" xlink:label="loc_deiCityAreaCode" />
      <link:presentationArc order="280" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiCityAreaCode" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_LocalPhoneNumber" xlink:label="loc_deiLocalPhoneNumber" />
      <link:presentationArc order="290" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiLocalPhoneNumber" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_Extension" xlink:label="loc_deiExtension" />
      <link:presentationArc order="300" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiExtension" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_WrittenCommunications" xlink:label="loc_deiWrittenCommunications" />
      <link:presentationArc order="310" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiWrittenCommunications" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_SolicitingMaterial" xlink:label="loc_deiSolicitingMaterial" />
      <link:presentationArc order="320" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiSolicitingMaterial" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_PreCommencementTenderOffer" xlink:label="loc_deiPreCommencementTenderOffer" />
      <link:presentationArc order="330" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiPreCommencementTenderOffer" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_PreCommencementIssuerTenderOffer" xlink:label="loc_deiPreCommencementIssuerTenderOffer" />
      <link:presentationArc order="340" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiPreCommencementIssuerTenderOffer" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_Security12bTitle" xlink:label="loc_deiSecurity12bTitle" />
      <link:presentationArc order="350" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiSecurity12bTitle" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_NoTradingSymbolFlag" xlink:label="loc_deiNoTradingSymbolFlag" />
      <link:presentationArc order="360" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiNoTradingSymbolFlag" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_TradingSymbol" xlink:label="loc_deiTradingSymbol" />
      <link:presentationArc order="370" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiTradingSymbol" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_SecurityExchangeName" xlink:label="loc_deiSecurityExchangeName" />
      <link:presentationArc order="380" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiSecurityExchangeName" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_Security12gTitle" xlink:label="loc_deiSecurity12gTitle" />
      <link:presentationArc order="390" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiSecurity12gTitle" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_SecurityReportingObligation" xlink:label="loc_deiSecurityReportingObligation" />
      <link:presentationArc order="400" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiSecurityReportingObligation" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_AnnualInformationForm" xlink:label="loc_deiAnnualInformationForm" />
      <link:presentationArc order="410" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiAnnualInformationForm" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_AuditedAnnualFinancialStatements" xlink:label="loc_deiAuditedAnnualFinancialStatements" />
      <link:presentationArc order="420" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiAuditedAnnualFinancialStatements" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_EntityWellKnownSeasonedIssuer" xlink:label="loc_deiEntityWellKnownSeasonedIssuer" />
      <link:presentationArc order="430" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiEntityWellKnownSeasonedIssuer" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_EntityVoluntaryFilers" xlink:label="loc_deiEntityVoluntaryFilers" />
      <link:presentationArc order="440" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiEntityVoluntaryFilers" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_EntityCurrentReportingStatus" xlink:label="loc_deiEntityCurrentReportingStatus" />
      <link:presentationArc order="450" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiEntityCurrentReportingStatus" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_EntityInteractiveDataCurrent" xlink:label="loc_deiEntityInteractiveDataCurrent" />
      <link:presentationArc order="460" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiEntityInteractiveDataCurrent" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_EntityFilerCategory" xlink:label="loc_deiEntityFilerCategory" />
      <link:presentationArc order="470" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiEntityFilerCategory" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_EntitySmallBusiness" xlink:label="loc_deiEntitySmallBusiness" />
      <link:presentationArc order="480" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiEntitySmallBusiness" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_EntityEmergingGrowthCompany" xlink:label="loc_deiEntityEmergingGrowthCompany" />
      <link:presentationArc order="490" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiEntityEmergingGrowthCompany" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_EntityExTransitionPeriod" xlink:label="loc_deiEntityExTransitionPeriod" />
      <link:presentationArc order="500" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiEntityExTransitionPeriod" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_DocumentAccountingStandard" xlink:label="loc_deiDocumentAccountingStandard" />
      <link:presentationArc order="510" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiDocumentAccountingStandard" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_OtherReportingStandardItemNumber" xlink:label="loc_deiOtherReportingStandardItemNumber" />
      <link:presentationArc order="520" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiOtherReportingStandardItemNumber" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_EntityShellCompany" xlink:label="loc_deiEntityShellCompany" />
      <link:presentationArc order="530" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiEntityShellCompany" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_EntityPublicFloat" xlink:label="loc_deiEntityPublicFloat" />
      <link:presentationArc order="540" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiEntityPublicFloat" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_EntityBankruptcyProceedingsReportingCurrent" xlink:label="loc_deiEntityBankruptcyProceedingsReportingCurrent" />
      <link:presentationArc order="550" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiEntityBankruptcyProceedingsReportingCurrent" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_EntityCommonStockSharesOutstanding" xlink:label="loc_deiEntityCommonStockSharesOutstanding" />
      <link:presentationArc order="560" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiEntityCommonStockSharesOutstanding" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd#dei_DocumentsIncorporatedByReferenceTextBlock" xlink:label="loc_deiDocumentsIncorporatedByReferenceTextBlock" />
      <link:presentationArc order="570" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiDocumentsIncorporatedByReferenceTextBlock" xlink:type="arc" />
    </link:presentationLink>
</link:linkbase>
</XBRL>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>6
<FILENAME>tm211535d1_ex99-1img001.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 tm211535d1_ex99-1img001.jpg
M_]C_X  02D9)1@ ! 0$ 8 !@  #_VP!#  $! 0$! 0$! 0$! 0$! 0$! 0$!
M 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0'_
MVP!# 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0$!
M 0$! 0$! 0$! 0$! 0$! 0$! 0$! 0'_P  1" !< ,@# 2(  A$! Q$!_\0
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M=E\1? 6H_#J*Y813ZOI_B&X\::78.=TDDL\@\*^&[M[2W/EO--%8LZJ3L@?
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MC82J8Y7O_"]_X=\-^-K'>+D6]CI'B%(+9WU&9S^2'["/AGXO?\%Q/V\?A?\
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)=N@4444 ?__9

end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>7
<FILENAME>tm211535d1_8k_htm.xml
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<XML>
<?xml version="1.0" encoding="utf-8"?>
<xbrl
  xmlns="http://www.xbrl.org/2003/instance"
  xmlns:dei="http://xbrl.sec.gov/dei/2020-01-31"
  xmlns:iso4217="http://www.xbrl.org/2003/iso4217"
  xmlns:link="http://www.xbrl.org/2003/linkbase"
  xmlns:xlink="http://www.w3.org/1999/xlink">
    <link:schemaRef xlink:href="adc-20210104.xsd" xlink:type="simple"/>
    <context id="From2021-01-04to2021-01-04">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000917251</identifier>
        </entity>
        <period>
            <startDate>2021-01-04</startDate>
            <endDate>2021-01-04</endDate>
        </period>
    </context>
    <unit id="USD">
        <measure>iso4217:USD</measure>
    </unit>
    <unit id="Shares">
        <measure>shares</measure>
    </unit>
    <unit id="USDPShares">
        <divide>
            <unitNumerator>
                <measure>iso4217:USD</measure>
            </unitNumerator>
            <unitDenominator>
                <measure>shares</measure>
            </unitDenominator>
        </divide>
    </unit>
    <dei:EntityCentralIndexKey contextRef="From2021-01-04to2021-01-04">0000917251</dei:EntityCentralIndexKey>
    <dei:AmendmentFlag contextRef="From2021-01-04to2021-01-04">false</dei:AmendmentFlag>
    <dei:DocumentType contextRef="From2021-01-04to2021-01-04">8-K</dei:DocumentType>
    <dei:DocumentPeriodEndDate contextRef="From2021-01-04to2021-01-04">2021-01-04</dei:DocumentPeriodEndDate>
    <dei:EntityRegistrantName contextRef="From2021-01-04to2021-01-04">AGREE REALTY CORPORATION</dei:EntityRegistrantName>
    <dei:EntityIncorporationStateCountryCode contextRef="From2021-01-04to2021-01-04">MD</dei:EntityIncorporationStateCountryCode>
    <dei:EntityFileNumber contextRef="From2021-01-04to2021-01-04">1-12928</dei:EntityFileNumber>
    <dei:EntityTaxIdentificationNumber contextRef="From2021-01-04to2021-01-04">38-3148187</dei:EntityTaxIdentificationNumber>
    <dei:EntityAddressAddressLine1 contextRef="From2021-01-04to2021-01-04">70 E. Long Lake Road</dei:EntityAddressAddressLine1>
    <dei:EntityAddressCityOrTown contextRef="From2021-01-04to2021-01-04">Bloomfield Hills</dei:EntityAddressCityOrTown>
    <dei:EntityAddressStateOrProvince contextRef="From2021-01-04to2021-01-04">MI</dei:EntityAddressStateOrProvince>
    <dei:EntityAddressPostalZipCode contextRef="From2021-01-04to2021-01-04">48304</dei:EntityAddressPostalZipCode>
    <dei:CityAreaCode contextRef="From2021-01-04to2021-01-04">248</dei:CityAreaCode>
    <dei:LocalPhoneNumber contextRef="From2021-01-04to2021-01-04">737-4190</dei:LocalPhoneNumber>
    <dei:WrittenCommunications contextRef="From2021-01-04to2021-01-04">false</dei:WrittenCommunications>
    <dei:SolicitingMaterial contextRef="From2021-01-04to2021-01-04">false</dei:SolicitingMaterial>
    <dei:PreCommencementTenderOffer contextRef="From2021-01-04to2021-01-04">false</dei:PreCommencementTenderOffer>
    <dei:PreCommencementIssuerTenderOffer contextRef="From2021-01-04to2021-01-04">false</dei:PreCommencementIssuerTenderOffer>
    <dei:Security12bTitle contextRef="From2021-01-04to2021-01-04">Common Stock, $.0001 par value</dei:Security12bTitle>
    <dei:TradingSymbol contextRef="From2021-01-04to2021-01-04">ADC</dei:TradingSymbol>
    <dei:SecurityExchangeName contextRef="From2021-01-04to2021-01-04">NYSE</dei:SecurityExchangeName>
    <dei:EntityEmergingGrowthCompany contextRef="From2021-01-04to2021-01-04">false</dei:EntityEmergingGrowthCompany>
</xbrl>
</XML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>8
<FILENAME>R1.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.20.4</span><table class="report" border="0" cellspacing="2" id="idm140088974327480">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Cover<br></strong></div></th>
<th class="th"><div>Jan. 04, 2021</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_CoverAbstract', window );"><strong>Cover [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_DocumentType', window );">Document Type</a></td>
<td class="text">8-K<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_AmendmentFlag', window );">Amendment Flag</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_DocumentPeriodEndDate', window );">Document Period End Date</a></td>
<td class="text">Jan.  04,  2021<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityFileNumber', window );">Entity File Number</a></td>
<td class="text">1-12928<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityRegistrantName', window );">Entity Registrant Name</a></td>
<td class="text">AGREE REALTY CORPORATION<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityCentralIndexKey', window );">Entity Central Index Key</a></td>
<td class="text">0000917251<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityTaxIdentificationNumber', window );">Entity Tax Identification Number</a></td>
<td class="text">38-3148187<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityIncorporationStateCountryCode', window );">Entity Incorporation, State or Country Code</a></td>
<td class="text">MD<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityAddressAddressLine1', window );">Entity Address, Address Line One</a></td>
<td class="text">70 E. Long Lake Road<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityAddressCityOrTown', window );">Entity Address, City or Town</a></td>
<td class="text">Bloomfield Hills<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityAddressStateOrProvince', window );">Entity Address, State or Province</a></td>
<td class="text">MI<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityAddressPostalZipCode', window );">Entity Address, Postal Zip Code</a></td>
<td class="text">48304<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_CityAreaCode', window );">City Area Code</a></td>
<td class="text">248<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_LocalPhoneNumber', window );">Local Phone Number</a></td>
<td class="text">737-4190<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_WrittenCommunications', window );">Written Communications</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_SolicitingMaterial', window );">Soliciting Material</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_PreCommencementTenderOffer', window );">Pre-commencement Tender Offer</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_PreCommencementIssuerTenderOffer', window );">Pre-commencement Issuer Tender Offer</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_Security12bTitle', window );">Title of 12(b) Security</a></td>
<td class="text">Common Stock, $.0001 par value<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_TradingSymbol', window );">Trading Symbol</a></td>
<td class="text">ADC<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_SecurityExchangeName', window );">Security Exchange Name</a></td>
<td class="text">NYSE<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityEmergingGrowthCompany', window );">Entity Emerging Growth Company</a></td>
<td class="text">false<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_AmendmentFlag">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true when the XBRL content amends previously-filed or accepted submission.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_AmendmentFlag</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_CityAreaCode">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Area code of city</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_CityAreaCode</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_CoverAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Cover page.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_CoverAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_DocumentPeriodEndDate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The end date of the period reflected on the cover page if a periodic report. For all other reports and registration statements containing historical data, it is the date up through which that historical data is presented.  If there is no historical data in the report, use the filing date. The format of the date is YYYY-MM-DD.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_DocumentPeriodEndDate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:dateItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_DocumentType">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The type of document being provided (such as 10-K, 10-Q, 485BPOS, etc). The document type is limited to the same value as the supporting SEC submission type, or the word 'Other'.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_DocumentType</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:submissionTypeItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityAddressAddressLine1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Address Line 1 such as Attn, Building Name, Street Name</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityAddressAddressLine1</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityAddressCityOrTown">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Name of the City or Town</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityAddressCityOrTown</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityAddressPostalZipCode">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Code for the postal or zip code</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityAddressPostalZipCode</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityAddressStateOrProvince">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Name of the state or province.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityAddressStateOrProvince</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:stateOrProvinceItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityCentralIndexKey">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation 12B<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityCentralIndexKey</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:centralIndexKeyItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityEmergingGrowthCompany">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Indicate if registrant meets the emerging growth company criteria.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation 12B<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityEmergingGrowthCompany</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityFileNumber">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Commission file number. The field allows up to 17 characters. The prefix may contain 1-3 digits, the sequence number may contain 1-8 digits, the optional suffix may contain 1-4 characters, and the fields are separated with a hyphen.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityFileNumber</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:fileNumberItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityIncorporationStateCountryCode">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Two-character EDGAR code representing the state or country of incorporation.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityIncorporationStateCountryCode</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:edgarStateCountryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityRegistrantName">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation 12B<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityRegistrantName</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityTaxIdentificationNumber">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The Tax Identification Number (TIN), also known as an Employer Identification Number (EIN), is a unique 9-digit value assigned by the IRS.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation 12B<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityTaxIdentificationNumber</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:employerIdItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_LocalPhoneNumber">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Local phone number for entity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_LocalPhoneNumber</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_PreCommencementIssuerTenderOffer">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 13e<br> -Subsection 4c<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_PreCommencementIssuerTenderOffer</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_PreCommencementTenderOffer">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 14d<br> -Subsection 2b<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_PreCommencementTenderOffer</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_Security12bTitle">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Title of a 12(b) registered security.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 12<br> -Subsection b<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_Security12bTitle</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:securityTitleItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_SecurityExchangeName">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Name of the Exchange on which a security is registered.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 12<br> -Subsection d1-1<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_SecurityExchangeName</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:edgarExchangeCodeItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_SolicitingMaterial">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as soliciting material pursuant to Rule 14a-12 under the Exchange Act.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Section 14a<br> -Number 240<br> -Subsection 12<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_SolicitingMaterial</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_TradingSymbol">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Trading symbol of an instrument as listed on an exchange.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_TradingSymbol</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:tradingSymbolItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_WrittenCommunications">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as written communications pursuant to Rule 425 under the Securities Act.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Securities Act<br> -Number 230<br> -Section 425<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_WrittenCommunications</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EXCEL
<SEQUENCE>9
<FILENAME>Financial_Report.xlsx
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
begin 644 Financial_Report.xlsx
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M=]W3CHG&K=!X#;[Q3X?#KHG&J]!TZVDF)_VN:Z3I%FA"1N/K>A(5M>5 TR
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M!Z.:60F]A%9JGZJ'-#ZH'C(*!?&Y'C[E>G@*-Y;&O%"N@GL!_]':-\*K^(+
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MU4#E/]O4#6CV#30<D05>,9FV-J/D3@H\W/[O#;#"Q([A[8N_ 5!+ P04
M" "[@212A:@O;C<$   M$   &    'AL+W=O<FMS:&5E=',O<VAE970Q+GAM
M;)V877/B-A2&K[>_0L/THITAL66<0'8(,X207;KY8(!V9]OIA; %:")+KBR'
MY-_WR!";;LTQ;2Z"97Q>/SY'?H]$?ZO-<[;AW)+71*KLNK6Q-OWH>5FTX0G+
MSG7*%7RSTB9A%H9F[66IX2PN@A+I!;Y_Z25,J-:@7YR;FD%?YU8*Q:>&9'F2
M,/-VPZ7>7K=HZ_W$3*PWUIWP!OV4K?F<VU_3J8&15ZK$(N$J$UH1PU?7K2']
M>!.$+J"XXC?!M]G!,7&/LM3ZV0TF\77+=T1<\L@Z"08?+WS$I71*P/'77K15
MWM,%'AZ_J]\5#P\/LV09'VGY5<1V<]WJM4C,5RR7=J:WG_G^@2Z<7J1E5OPG
MV]VU8=@B49Y9G>R#@2 1:O?)7O>). CHT",!P3X@*+AW-RHH;YEE@[[16V+<
MU:#F#HI'+:(!3BA7E;DU\*V .#L8Z1=N^IX%*7?"B_9A-[NPX$C8+TR=$S]L
MD\ /Z#_#/2 H,8(2(RCT.A@&^6.XS*R!0OV)2'9*R4XA&1Z1O-51#M/'DL5;
MRNN>$ _OG7U!(,(2(D15AD 0%Q1WDJWK*/#X%9,91S@N2HZ+TY(QY4;HF(Q5
M3&"^U.8%5RHJ'[9_^/"AH?27)=HE*CA65M@W<B<D)X]YLJR?CK@&/:/!5=!#
M:+HE3?<4FAE?"S<5(6./+*E-$ZXS_#0;C\EL/+Q??".CI]GT:39<3)X>$<1>
MB=@[!7$$Y31,DHF*^2OYPM_J('$E'_ZN:#>XP.IX56)=G8*U8*]D$@.;6(F(
M%<Y[O*JX8J=WUJ%AC_:Z"![U*Z?S3P&<J$B;5)N"K4WF%EX#H@T9Z1P2"GG5
M<6V]&]0?;C'( SNFIT .X]CP+&N_'Y![N(X\J7HR7++KD_$YN==J3>[9,R<S
MS6*,M?)L&OPGUI$;0287>JMJ.7&Y&ZEULA)<QN2SD#+#&*LF0'$;_YZQ+/?4
MZ!>AHOJ$XIH/$PRM:@T4]_;OT:8ZL_ ^_R[2XW,05PQ['3_$V*IV07&7+THY
MA&7><11<( @Q-Z95<Z"XL]_K"'(RW6B%=8<&D6ZG>Q;2*Q\CJAH$Q9W]JQ'6
M<@6)29)<[3TNJZ7"A9IZ.ZT: L5]?*ZEB(05\(8_P/0V@LE:'ERED:?J!!0W
M[JGA9Q&DA\/[M5N"P2H(UG=/J]61^N%Z361!U0,"W*7_13;)LAS(F@ ;9!L!
M*_\/<+->" OK(+TB-/AI^3.9\RB'^5;;VQN4W/R$YCNW.GINDQ_/H==3DC)#
M7IC,4=B#13ONV O#8C?IYF_)4M=.N0:!X>T( ZE</L =^3U-9/P:;9A:\Z.K
MM@:AQV_S,494F7MPDKF/$V[6+D6?0,%NG&FD3-67\W_N!+R#S9_;2#\P=\>,
M2+X"(?^\"T9M=GO3W<#JM-@/+K6%W65QN(']/#?N OA^I;5]'[@M9OD+P>!O
M4$L#!!0    ( +N!)%*#J:4#U $  #(&   -    >&PO<W1Y;&5S+GAM;-55
MVXK40!#]E:8_P)Y$=D%) BHL""H+.P^^=I)*TM W.Y4QV:^W.YW;N RH#Z(O
MDSJGJD^=OD[6XR3AJ0- ,BJI^YQVB/8M8WW5@>+]*V-!^TQCG.+HH6M9;QWP
MN@^#E&3IZ73/%!>:%ID>U(/"GE1FT)C3$V5%UAB],Z]I)'PI5T N7.;T Y>B
M=&*NY4K(*=)I("HCC2/HK4!.D\#TSS&=1!1<+CI*:.,"R6*'^%LNY3\E5M1[
M**3<#*8T$D5F.2(X_>#!7#R3+U)DB<^3]0Y;QZ<DO:/[@/GCFY3&U>"V-@E=
MJ2*3T 0[3K1=^**Q+"01C?)!+7AK-)\]K".6P,M6(.53V,*OS97VV)"X%Q_K
ML TD3'4-O:$EC#(1!/VC6M0^R-[]D2RQXF+P_>!GHV?\;3 (CPX:,<YX;+;^
MM]23V^K<6CF]DZ+5"N+<?[EAD?%U'.F,$\^^6S@IE2? 47(!AZ(Z,M\=MV<8
M<3U-8W/;<_H?>OZ[Z]R"!L?ET;0_^O_R*O^.8[;<GL,5O;J@&TO"0YC3+^%]
ME;L'4@Y"HM +ZD1=@WYQ3[T\\M(_X%?ZOKZ&A@\2SULRIWO\&6HQJ#=;U6-8
MEZ5JCS^%]RBYGQON_Q+%#U!+ P04    " "[@212EXJ[',     3 @  "P
M %]R96QS+RYR96QSG9*Y;L,P#$!_Q=">, ?0(8@S9?$6!/D!5J(/V!(%BD6=
MOZ_:I7&0"QEY/3P2W!YI0.TXI+:+J1C]$%)I6M6X 4BV)8]ISI%"KM0L'C6'
MTD!$VV-#L%HL/D N&6:WO606IW.D5XA<UYVE/=LO3T%O@*\Z3'%":4A+,P[P
MS=)_,O?S##5%Y4HCE5L:>-/E_G;@2=&A(E@6FD7)TZ(=I7\=Q_:0T^FO8R*T
M>EOH^7%H5 J.W&,EC'%BM/XU@LD/['X 4$L#!!0    ( +N!)%*JQ"(6,P$
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M'EKG5LJ]AU>RY1AQ_)[E#U!+ P04    " "[@212)!Z;HJT   #X 0  &@
M 'AL+U]R96QS+W=O<FMB;V]K+GAM;"YR96QSM9$]#H,P#(6O$N4 -5"I0P5,
M75@K+A %\R,2$L6N"K<OA0&0.G1ALIXM?^_)3I]H%'=NH+;S)$9K!LIDR^SO
M *1;M(HNSN,P3VH7K.)9A@:\TKUJ$)(HND'8,V2>[IFBG#S^0W1UW6E\./VR
M./ /,+Q=Z*E%9"E*%1KD3,)HMC;!4N++3):BJ#(9BBJ6<%H@XLD@;6E6?;!/
M3K3G>1<W]T6NS>,)KM\,<'AT_@%02P,$%     @ NX$D4F60>9(9 0  SP,
M !,   !;0V]N=&5N=%]4>7!E<UTN>&ULK9--3L,P$(6O$F5;)2XL6*"F&V +
M77 !8T\:J_Z39UK2VS-.VDJ@$A6%3:QXWKS/GI>LWH\1L.B=]=B4'5%\% )5
M!TYB'2)XKK0A.4G\FK8B2K636Q#WR^6#4,$3>*HH>Y3KU3.T<F^I>.EY&TWP
M39G 8ED\C<+,:DH9HS5*$M?%P>L?E.I$J+EST&!G(BY84(JKA%SY'7#J>SM
M2D9#L9&)7J5CE>BM0#I:P'K:XLH90]L:!3JHO>.6&F,"J;$#(&?KT70Q32:>
M,(S/N]G\P68*R,I-"A$YL01_QYTCR=U59"-(9*:O>"&R]>S[04Y;@[Z1S>/]
M#&DWY(%B6.;/^'O&%_\;SO$1PNZ_/[&\UDX:?^:+X3]>?P%02P$"% ,4
M" "[@212!T%-8H$   "Q    $               @ $     9&]C4')O<',O
M87!P+GAM;%!+ 0(4 Q0    ( +N!)%(Z>@S;[P   "L"   1
M  "  :\   !D;V-0<F]P<R]C;W)E+GAM;%!+ 0(4 Q0    ( +N!)%*97)PC
M$ 8  )PG   3              "  <T!  !X;"]T:&5M92]T:&5M93$N>&UL
M4$L! A0#%     @ NX$D4H6H+VXW!   +1   !@              ("!#@@
M 'AL+W=O<FMS:&5E=',O<VAE970Q+GAM;%!+ 0(4 Q0    ( +N!)%*#J:4#
MU $  #(&   -              "  7L,  !X;"]S='EL97,N>&UL4$L! A0#
M%     @ NX$D4I>*NQS     $P(   L              ( !>@X  %]R96QS
M+RYR96QS4$L! A0#%     @ NX$D4JK$(A8S 0  (@(   \
M ( !8P\  'AL+W=O<FMB;V]K+GAM;%!+ 0(4 Q0    ( +N!)%(D'INBK0
M /@!   :              "  <,0  !X;"]?<F5L<R]W;W)K8F]O:RYX;6PN
M<F5L<U!+ 0(4 Q0    ( +N!)%)ED'F2&0$  ,\#   3              "
M :@1  !;0V]N=&5N=%]4>7!E<UTN>&UL4$L%!@     )  D /@(  /(2
!  $!

end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>10
<FILENAME>Show.js
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
// Edgar(tm) Renderer was created by staff of the U.S. Securities and Exchange Commission.  Data and content created by government employees within the scope of their employment are not subject to domestic copyright protection. 17 U.S.C. 105.
var Show={};Show.LastAR=null,Show.showAR=function(a,r,w){if(Show.LastAR)Show.hideAR();var e=a;while(e&&e.nodeName!='TABLE')e=e.nextSibling;if(!e||e.nodeName!='TABLE'){var ref=((window)?w.document:document).getElementById(r);if(ref){e=ref.cloneNode(!0);
e.removeAttribute('id');a.parentNode.appendChild(e)}}
if(e)e.style.display='block';Show.LastAR=e};Show.hideAR=function(){Show.LastAR.style.display='none'};Show.toggleNext=function(a){var e=a;while(e.nodeName!='DIV')e=e.nextSibling;if(!e.style){}else if(!e.style.display){}else{var d,p_;if(e.style.display=='none'){d='block';p='-'}else{d='none';p='+'}
e.style.display=d;if(a.textContent){a.textContent=p+a.textContent.substring(1)}else{a.innerText=p+a.innerText.substring(1)}}}
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>11
<FILENAME>report.css
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
/* Updated 2009-11-04 */
/* v2.2.0.24 */

/* DefRef Styles */
..report table.authRefData{
	background-color: #def;
	border: 2px solid #2F4497;
	font-size: 1em;
	position: absolute;
}

..report table.authRefData a {
	display: block;
	font-weight: bold;
}

..report table.authRefData p {
	margin-top: 0px;
}

..report table.authRefData .hide {
	background-color: #2F4497;
	padding: 1px 3px 0px 0px;
	text-align: right;
}

..report table.authRefData .hide a:hover {
	background-color: #2F4497;
}

..report table.authRefData .body {
	height: 150px;
	overflow: auto;
	width: 400px;
}

..report table.authRefData table{
	font-size: 1em;
}

/* Report Styles */
..pl a, .pl a:visited {
	color: black;
	text-decoration: none;
}

/* table */
..report {
	background-color: white;
	border: 2px solid #acf;
	clear: both;
	color: black;
	font: normal 8pt Helvetica, Arial, san-serif;
	margin-bottom: 2em;
}

..report hr {
	border: 1px solid #acf;
}

/* Top labels */
..report th {
	background-color: #acf;
	color: black;
	font-weight: bold;
	text-align: center;
}

..report th.void	{
	background-color: transparent;
	color: #000000;
	font: bold 10pt Helvetica, Arial, san-serif;
	text-align: left;
}

..report .pl {
	text-align: left;
	vertical-align: top;
	white-space: normal;
	width: 200px;
	white-space: normal; /* word-wrap: break-word; */
}

..report td.pl a.a {
	cursor: pointer;
	display: block;
	width: 200px;
	overflow: hidden;
}

..report td.pl div.a {
	width: 200px;
}

..report td.pl a:hover {
	background-color: #ffc;
}

/* Header rows... */
..report tr.rh {
	background-color: #acf;
	color: black;
	font-weight: bold;
}

/* Calendars... */
..report .rc {
	background-color: #f0f0f0;
}

/* Even rows... */
..report .re, .report .reu {
	background-color: #def;
}

..report .reu td {
	border-bottom: 1px solid black;
}

/* Odd rows... */
..report .ro, .report .rou {
	background-color: white;
}

..report .rou td {
	border-bottom: 1px solid black;
}

..report .rou table td, .report .reu table td {
	border-bottom: 0px solid black;
}

/* styles for footnote marker */
..report .fn {
	white-space: nowrap;
}

/* styles for numeric types */
..report .num, .report .nump {
	text-align: right;
	white-space: nowrap;
}

..report .nump {
	padding-left: 2em;
}

..report .nump {
	padding: 0px 0.4em 0px 2em;
}

/* styles for text types */
..report .text {
	text-align: left;
	white-space: normal;
}

..report .text .big {
	margin-bottom: 1em;
	width: 17em;
}

..report .text .more {
	display: none;
}

..report .text .note {
	font-style: italic;
	font-weight: bold;
}

..report .text .small {
	width: 10em;
}

..report sup {
	font-style: italic;
}

..report .outerFootnotes {
	font-size: 1em;
}
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>12
<FILENAME>FilingSummary.xml
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<XML>
<?xml version='1.0' encoding='utf-8'?>
<FilingSummary>
  <Version>3.20.4</Version>
  <ProcessingTime/>
  <ReportFormat>html</ReportFormat>
  <ContextCount>1</ContextCount>
  <ElementCount>96</ElementCount>
  <EntityCount>1</EntityCount>
  <FootnotesReported>false</FootnotesReported>
  <SegmentCount>0</SegmentCount>
  <ScenarioCount>0</ScenarioCount>
  <TuplesReported>false</TuplesReported>
  <UnitCount>3</UnitCount>
  <MyReports>
    <Report instance="tm211535d1_8k.htm">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R1.htm</HtmlFileName>
      <LongName>00000001 - Document - Cover</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://agreerealty.com/role/Cover</Role>
      <ShortName>Cover</ShortName>
      <MenuCategory>Cover</MenuCategory>
      <Position>1</Position>
    </Report>
    <Report>
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <LongName>All Reports</LongName>
      <ReportType>Book</ReportType>
      <ShortName>All Reports</ShortName>
    </Report>
  </MyReports>
  <InputFiles>
    <File doctype="8-K" original="tm211535d1_8k.htm">tm211535d1_8k.htm</File>
    <File>adc-20210104.xsd</File>
    <File>adc-20210104_lab.xml</File>
    <File>adc-20210104_pre.xml</File>
    <File>tm211535d1_ex99-1.htm</File>
  </InputFiles>
  <SupplementalFiles/>
  <BaseTaxonomies>
    <BaseTaxonomy>http://xbrl.sec.gov/dei/2020-01-31</BaseTaxonomy>
  </BaseTaxonomies>
  <HasPresentationLinkbase>true</HasPresentationLinkbase>
  <HasCalculationLinkbase>false</HasCalculationLinkbase>
</FilingSummary>
</XML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>JSON
<SEQUENCE>14
<FILENAME>MetaLinks.json
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
{
 "instance": {
  "tm211535d1_8k.htm": {
   "axisCustom": 0,
   "axisStandard": 0,
   "contextCount": 1,
   "dts": {
    "definitionLink": {
     "remote": [
      "http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-eedm-def-2020-01-31.xml",
      "http://xbrl.fasb.org/srt/2020/elts/srt-eedm1-def-2020-01-31.xml"
     ]
    },
    "inline": {
     "local": [
      "tm211535d1_8k.htm"
     ]
    },
    "labelLink": {
     "local": [
      "adc-20210104_lab.xml"
     ],
     "remote": [
      "https://xbrl.sec.gov/dei/2020/dei-doc-2020-01-31.xml"
     ]
    },
    "presentationLink": {
     "local": [
      "adc-20210104_pre.xml"
     ]
    },
    "referenceLink": {
     "remote": [
      "https://xbrl.sec.gov/dei/2020/dei-ref-2020-01-31.xml"
     ]
    },
    "schema": {
     "local": [
      "adc-20210104.xsd"
     ],
     "remote": [
      "http://www.xbrl.org/2003/xbrl-linkbase-2003-12-31.xsd",
      "http://www.xbrl.org/2003/xl-2003-12-31.xsd",
      "http://www.xbrl.org/2003/xlink-2003-12-31.xsd",
      "https://xbrl.sec.gov/dei/2020/dei-2020-01-31.xsd",
      "http://www.xbrl.org/2003/xbrl-instance-2003-12-31.xsd",
      "http://www.xbrl.org/2005/xbrldt-2005.xsd",
      "http://www.xbrl.org/dtr/type/nonNumeric-2009-12-16.xsd",
      "http://www.xbrl.org/dtr/type/numeric-2009-12-16.xsd",
      "http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd",
      "http://www.xbrl.org/lrr/role/net-2009-12-16.xsd",
      "http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd",
      "http://xbrl.fasb.org/us-gaap/2020/elts/us-roles-2020-01-31.xsd",
      "http://xbrl.fasb.org/srt/2020/elts/srt-2020-01-31.xsd",
      "http://www.xbrl.org/2006/ref-2006-02-27.xsd",
      "http://xbrl.fasb.org/srt/2020/elts/srt-types-2020-01-31.xsd",
      "http://xbrl.fasb.org/srt/2020/elts/srt-roles-2020-01-31.xsd",
      "https://xbrl.sec.gov/country/2020/country-2020-01-31.xsd",
      "http://xbrl.fasb.org/us-gaap/2020/elts/us-types-2020-01-31.xsd",
      "http://www.xbrl.org/lrr/role/deprecated-2009-12-16.xsd"
     ]
    }
   },
   "elementCount": 59,
   "entityCount": 1,
   "hidden": {
    "http://xbrl.sec.gov/dei/2020-01-31": 2,
    "total": 2
   },
   "keyCustom": 0,
   "keyStandard": 96,
   "memberCustom": 0,
   "memberStandard": 0,
   "nsprefix": "adc",
   "nsuri": "http://agreerealty.com/20210104",
   "report": {
    "R1": {
     "firstAnchor": {
      "ancestors": [
       "span",
       "b",
       "p",
       "body",
       "html"
      ],
      "baseRef": "tm211535d1_8k.htm",
      "contextRef": "From2021-01-04to2021-01-04",
      "decimals": null,
      "first": true,
      "lang": "en-US",
      "name": "dei:DocumentType",
      "reportCount": 1,
      "unique": true,
      "unitRef": null,
      "xsiNil": "false"
     },
     "groupType": "document",
     "isDefault": "true",
     "longName": "00000001 - Document - Cover",
     "role": "http://agreerealty.com/role/Cover",
     "shortName": "Cover",
     "subGroupType": "",
     "uniqueAnchor": {
      "ancestors": [
       "span",
       "b",
       "p",
       "body",
       "html"
      ],
      "baseRef": "tm211535d1_8k.htm",
      "contextRef": "From2021-01-04to2021-01-04",
      "decimals": null,
      "first": true,
      "lang": "en-US",
      "name": "dei:DocumentType",
      "reportCount": 1,
      "unique": true,
      "unitRef": null,
      "xsiNil": "false"
     }
    }
   },
   "segmentCount": 0,
   "tag": {
    "dei_AmendmentDescription": {
     "auth_ref": [],
     "lang": {
      "en-us": {
       "role": {
        "documentation": "Description of changes contained within amended document.",
        "label": "Amendment Description"
       }
      }
     },
     "localname": "AmendmentDescription",
     "nsuri": "http://xbrl.sec.gov/dei/2020-01-31",
     "presentation": [
      "http://agreerealty.com/role/Cover"
     ],
     "xbrltype": "stringItemType"
    },
    "dei_AmendmentFlag": {
     "auth_ref": [],
     "lang": {
      "en-us": {
       "role": {
        "documentation": "Boolean flag that is true when the XBRL content amends previously-filed or accepted submission.",
        "label": "Amendment Flag"
       }
      }
     },
     "localname": "AmendmentFlag",
     "nsuri": "http://xbrl.sec.gov/dei/2020-01-31",
     "presentation": [
      "http://agreerealty.com/role/Cover"
     ],
     "xbrltype": "booleanItemType"
    },
    "dei_AnnualInformationForm": {
     "auth_ref": [
      "r12"
     ],
     "lang": {
      "en-us": {
       "role": {
        "documentation": "Boolean flag with value true on a form if it is an annual report containing an annual information form.",
        "label": "Annual Information Form"
       }
      }
     },
     "localname": "AnnualInformationForm",
     "nsuri": "http://xbrl.sec.gov/dei/2020-01-31",
     "presentation": [
      "http://agreerealty.com/role/Cover"
     ],
     "xbrltype": "booleanItemType"
    },
    "dei_AuditedAnnualFinancialStatements": {
     "auth_ref": [
      "r12"
     ],
     "lang": {
      "en-us": {
       "role": {
        "documentation": "Boolean flag with value true on a form if it is an annual report containing audited financial statements.",
        "label": "Audited Annual Financial Statements"
       }
      }
     },
     "localname": "AuditedAnnualFinancialStatements",
     "nsuri": "http://xbrl.sec.gov/dei/2020-01-31",
     "presentation": [
      "http://agreerealty.com/role/Cover"
     ],
     "xbrltype": "booleanItemType"
    },
    "dei_CityAreaCode": {
     "auth_ref": [],
     "lang": {
      "en-us": {
       "role": {
        "documentation": "Area code of city",
        "label": "City Area Code"
       }
      }
     },
     "localname": "CityAreaCode",
     "nsuri": "http://xbrl.sec.gov/dei/2020-01-31",
     "presentation": [
      "http://agreerealty.com/role/Cover"
     ],
     "xbrltype": "normalizedStringItemType"
    },
    "dei_CountryRegion": {
     "auth_ref": [],
     "lang": {
      "en-us": {
       "role": {
        "documentation": "Region code of country",
        "label": "Country Region"
       }
      }
     },
     "localname": "CountryRegion",
     "nsuri": "http://xbrl.sec.gov/dei/2020-01-31",
     "presentation": [
      "http://agreerealty.com/role/Cover"
     ],
     "xbrltype": "normalizedStringItemType"
    },
    "dei_CoverAbstract": {
     "auth_ref": [],
     "lang": {
      "en-us": {
       "role": {
        "documentation": "Cover page.",
        "label": "Cover [Abstract]"
       }
      }
     },
     "localname": "CoverAbstract",
     "nsuri": "http://xbrl.sec.gov/dei/2020-01-31",
     "xbrltype": "stringItemType"
    },
    "dei_CurrentFiscalYearEndDate": {
     "auth_ref": [],
     "lang": {
      "en-us": {
       "role": {
        "documentation": "End date of current fiscal year in the format --MM-DD.",
        "label": "Current Fiscal Year End Date"
       }
      }
     },
     "localname": "CurrentFiscalYearEndDate",
     "nsuri": "http://xbrl.sec.gov/dei/2020-01-31",
     "presentation": [
      "http://agreerealty.com/role/Cover"
     ],
     "xbrltype": "gMonthDayItemType"
    },
    "dei_DocumentAccountingStandard": {
     "auth_ref": [
      "r11"
     ],
     "lang": {
      "en-us": {
       "role": {
        "documentation": "The basis of accounting the registrant has used to prepare the financial statements included in this filing This can either be 'U.S. GAAP', 'International Financial Reporting Standards', or 'Other'.",
        "label": "Document Accounting Standard"
       }
      }
     },
     "localname": "DocumentAccountingStandard",
     "nsuri": "http://xbrl.sec.gov/dei/2020-01-31",
     "presentation": [
      "http://agreerealty.com/role/Cover"
     ],
     "xbrltype": "accountingStandardItemType"
    },
    "dei_DocumentAnnualReport": {
     "auth_ref": [
      "r9",
      "r11",
      "r12"
     ],
     "lang": {
      "en-us": {
       "role": {
        "documentation": "Boolean flag that is true only for a form used as an annual report.",
        "label": "Document Annual Report"
       }
      }
     },
     "localname": "DocumentAnnualReport",
     "nsuri": "http://xbrl.sec.gov/dei/2020-01-31",
     "presentation": [
      "http://agreerealty.com/role/Cover"
     ],
     "xbrltype": "booleanItemType"
    },
    "dei_DocumentFiscalPeriodFocus": {
     "auth_ref": [],
     "lang": {
      "en-us": {
       "role": {
        "documentation": "Fiscal period values are FY, Q1, Q2, and Q3.  1st, 2nd and 3rd quarter 10-Q or 10-QT statements have value Q1, Q2, and Q3 respectively, with 10-K, 10-KT or other fiscal year statements having FY.",
        "label": "Document Fiscal Period Focus"
       }
      }
     },
     "localname": "DocumentFiscalPeriodFocus",
     "nsuri": "http://xbrl.sec.gov/dei/2020-01-31",
     "presentation": [
      "http://agreerealty.com/role/Cover"
     ],
     "xbrltype": "fiscalPeriodItemType"
    },
    "dei_DocumentFiscalYearFocus": {
     "auth_ref": [],
     "lang": {
      "en-us": {
       "role": {
        "documentation": "This is focus fiscal year of the document report in YYYY format. For a 2006 annual report, which may also provide financial information from prior periods, fiscal 2006 should be given as the fiscal year focus. Example: 2006.",
        "label": "Document Fiscal Year Focus"
       }
      }
     },
     "localname": "DocumentFiscalYearFocus",
     "nsuri": "http://xbrl.sec.gov/dei/2020-01-31",
     "presentation": [
      "http://agreerealty.com/role/Cover"
     ],
     "xbrltype": "gYearItemType"
    },
    "dei_DocumentPeriodEndDate": {
     "auth_ref": [],
     "lang": {
      "en-us": {
       "role": {
        "documentation": "The end date of the period reflected on the cover page if a periodic report. For all other reports and registration statements containing historical data, it is the date up through which that historical data is presented.  If there is no historical data in the report, use the filing date. The format of the date is YYYY-MM-DD.",
        "label": "Document Period End Date"
       }
      }
     },
     "localname": "DocumentPeriodEndDate",
     "nsuri": "http://xbrl.sec.gov/dei/2020-01-31",
     "presentation": [
      "http://agreerealty.com/role/Cover"
     ],
     "xbrltype": "dateItemType"
    },
    "dei_DocumentPeriodStartDate": {
     "auth_ref": [],
     "lang": {
      "en-us": {
       "role": {
        "documentation": "The start date of the period covered in the document, in YYYY-MM-DD format.",
        "label": "Document Period Start Date"
       }
      }
     },
     "localname": "DocumentPeriodStartDate",
     "nsuri": "http://xbrl.sec.gov/dei/2020-01-31",
     "presentation": [
      "http://agreerealty.com/role/Cover"
     ],
     "xbrltype": "dateItemType"
    },
    "dei_DocumentQuarterlyReport": {
     "auth_ref": [
      "r10"
     ],
     "lang": {
      "en-us": {
       "role": {
        "documentation": "Boolean flag that is true only for a form used as an quarterly report.",
        "label": "Document Quarterly Report"
       }
      }
     },
     "localname": "DocumentQuarterlyReport",
     "nsuri": "http://xbrl.sec.gov/dei/2020-01-31",
     "presentation": [
      "http://agreerealty.com/role/Cover"
     ],
     "xbrltype": "booleanItemType"
    },
    "dei_DocumentRegistrationStatement": {
     "auth_ref": [
      "r18"
     ],
     "lang": {
      "en-us": {
       "role": {
        "documentation": "Boolean flag that is true only for a form used as a registration statement.",
        "label": "Document Registration Statement"
       }
      }
     },
     "localname": "DocumentRegistrationStatement",
     "nsuri": "http://xbrl.sec.gov/dei/2020-01-31",
     "presentation": [
      "http://agreerealty.com/role/Cover"
     ],
     "xbrltype": "booleanItemType"
    },
    "dei_DocumentShellCompanyEventDate": {
     "auth_ref": [
      "r11"
     ],
     "lang": {
      "en-us": {
       "role": {
        "documentation": "Date of event requiring a shell company report.",
        "label": "Document Shell Company Event Date"
       }
      }
     },
     "localname": "DocumentShellCompanyEventDate",
     "nsuri": "http://xbrl.sec.gov/dei/2020-01-31",
     "presentation": [
      "http://agreerealty.com/role/Cover"
     ],
     "xbrltype": "dateItemType"
    },
    "dei_DocumentShellCompanyReport": {
     "auth_ref": [
      "r11"
     ],
     "lang": {
      "en-us": {
       "role": {
        "documentation": "Boolean flag that is true for a Shell Company Report pursuant to section 13 or 15(d) of the Exchange Act.",
        "label": "Document Shell Company Report"
       }
      }
     },
     "localname": "DocumentShellCompanyReport",
     "nsuri": "http://xbrl.sec.gov/dei/2020-01-31",
     "presentation": [
      "http://agreerealty.com/role/Cover"
     ],
     "xbrltype": "booleanItemType"
    },
    "dei_DocumentTransitionReport": {
     "auth_ref": [
      "r13"
     ],
     "lang": {
      "en-us": {
       "role": {
        "documentation": "Boolean flag that is true only for a form used as a transition report.",
        "label": "Document Transition Report"
       }
      }
     },
     "localname": "DocumentTransitionReport",
     "nsuri": "http://xbrl.sec.gov/dei/2020-01-31",
     "presentation": [
      "http://agreerealty.com/role/Cover"
     ],
     "xbrltype": "booleanItemType"
    },
    "dei_DocumentType": {
     "auth_ref": [],
     "lang": {
      "en-us": {
       "role": {
        "documentation": "The type of document being provided (such as 10-K, 10-Q, 485BPOS, etc). The document type is limited to the same value as the supporting SEC submission type, or the word 'Other'.",
        "label": "Document Type"
       }
      }
     },
     "localname": "DocumentType",
     "nsuri": "http://xbrl.sec.gov/dei/2020-01-31",
     "presentation": [
      "http://agreerealty.com/role/Cover"
     ],
     "xbrltype": "submissionTypeItemType"
    },
    "dei_DocumentsIncorporatedByReferenceTextBlock": {
     "auth_ref": [
      "r1"
     ],
     "lang": {
      "en-us": {
       "role": {
        "documentation": "Documents incorporated by reference.",
        "label": "Documents Incorporated by Reference [Text Block]"
       }
      }
     },
     "localname": "DocumentsIncorporatedByReferenceTextBlock",
     "nsuri": "http://xbrl.sec.gov/dei/2020-01-31",
     "presentation": [
      "http://agreerealty.com/role/Cover"
     ],
     "xbrltype": "textBlockItemType"
    },
    "dei_EntityAddressAddressLine1": {
     "auth_ref": [],
     "lang": {
      "en-us": {
       "role": {
        "documentation": "Address Line 1 such as Attn, Building Name, Street Name",
        "label": "Entity Address, Address Line One"
       }
      }
     },
     "localname": "EntityAddressAddressLine1",
     "nsuri": "http://xbrl.sec.gov/dei/2020-01-31",
     "presentation": [
      "http://agreerealty.com/role/Cover"
     ],
     "xbrltype": "normalizedStringItemType"
    },
    "dei_EntityAddressAddressLine2": {
     "auth_ref": [],
     "lang": {
      "en-us": {
       "role": {
        "documentation": "Address Line 2 such as Street or Suite number",
        "label": "Entity Address, Address Line Two"
       }
      }
     },
     "localname": "EntityAddressAddressLine2",
     "nsuri": "http://xbrl.sec.gov/dei/2020-01-31",
     "presentation": [
      "http://agreerealty.com/role/Cover"
     ],
     "xbrltype": "normalizedStringItemType"
    },
    "dei_EntityAddressAddressLine3": {
     "auth_ref": [],
     "lang": {
      "en-us": {
       "role": {
        "documentation": "Address Line 3 such as an Office Park",
        "label": "Entity Address, Address Line Three"
       }
      }
     },
     "localname": "EntityAddressAddressLine3",
     "nsuri": "http://xbrl.sec.gov/dei/2020-01-31",
     "presentation": [
      "http://agreerealty.com/role/Cover"
     ],
     "xbrltype": "normalizedStringItemType"
    },
    "dei_EntityAddressCityOrTown": {
     "auth_ref": [],
     "lang": {
      "en-us": {
       "role": {
        "documentation": "Name of the City or Town",
        "label": "Entity Address, City or Town"
       }
      }
     },
     "localname": "EntityAddressCityOrTown",
     "nsuri": "http://xbrl.sec.gov/dei/2020-01-31",
     "presentation": [
      "http://agreerealty.com/role/Cover"
     ],
     "xbrltype": "normalizedStringItemType"
    },
    "dei_EntityAddressCountry": {
     "auth_ref": [],
     "lang": {
      "en-us": {
       "role": {
        "documentation": "ISO 3166-1 alpha-2 country code.",
        "label": "Entity Address, Country"
       }
      }
     },
     "localname": "EntityAddressCountry",
     "nsuri": "http://xbrl.sec.gov/dei/2020-01-31",
     "presentation": [
      "http://agreerealty.com/role/Cover"
     ],
     "xbrltype": "countryCodeItemType"
    },
    "dei_EntityAddressPostalZipCode": {
     "auth_ref": [],
     "lang": {
      "en-us": {
       "role": {
        "documentation": "Code for the postal or zip code",
        "label": "Entity Address, Postal Zip Code"
       }
      }
     },
     "localname": "EntityAddressPostalZipCode",
     "nsuri": "http://xbrl.sec.gov/dei/2020-01-31",
     "presentation": [
      "http://agreerealty.com/role/Cover"
     ],
     "xbrltype": "normalizedStringItemType"
    },
    "dei_EntityAddressStateOrProvince": {
     "auth_ref": [],
     "lang": {
      "en-us": {
       "role": {
        "documentation": "Name of the state or province.",
        "label": "Entity Address, State or Province"
       }
      }
     },
     "localname": "EntityAddressStateOrProvince",
     "nsuri": "http://xbrl.sec.gov/dei/2020-01-31",
     "presentation": [
      "http://agreerealty.com/role/Cover"
     ],
     "xbrltype": "stateOrProvinceItemType"
    },
    "dei_EntityBankruptcyProceedingsReportingCurrent": {
     "auth_ref": [
      "r4"
     ],
     "lang": {
      "en-us": {
       "role": {
        "documentation": "For registrants involved in bankruptcy proceedings during the preceding five years, the value Yes indicates that the registrant has filed all documents and reports required to be filed by Section 12, 13 or 15(d) of the Securities Exchange Act of 1934 subsequent to the distribution of securities under a plan confirmed by a court; the value No indicates the registrant has not.  Registrants not involved in bankruptcy proceedings during the preceding five years should not report this element.",
        "label": "Entity Bankruptcy Proceedings, Reporting Current"
       }
      }
     },
     "localname": "EntityBankruptcyProceedingsReportingCurrent",
     "nsuri": "http://xbrl.sec.gov/dei/2020-01-31",
     "presentation": [
      "http://agreerealty.com/role/Cover"
     ],
     "xbrltype": "booleanItemType"
    },
    "dei_EntityCentralIndexKey": {
     "auth_ref": [
      "r14"
     ],
     "lang": {
      "en-us": {
       "role": {
        "documentation": "A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK.",
        "label": "Entity Central Index Key"
       }
      }
     },
     "localname": "EntityCentralIndexKey",
     "nsuri": "http://xbrl.sec.gov/dei/2020-01-31",
     "presentation": [
      "http://agreerealty.com/role/Cover"
     ],
     "xbrltype": "centralIndexKeyItemType"
    },
    "dei_EntityCommonStockSharesOutstanding": {
     "auth_ref": [],
     "lang": {
      "en-us": {
       "role": {
        "documentation": "Indicate number of shares or other units outstanding of each of registrant's classes of capital or common stock or other ownership interests, if and as stated on cover of related periodic report. Where multiple classes or units exist define each class/interest by adding class of stock items such as Common Class A [Member], Common Class B [Member] or Partnership Interest [Member] onto the Instrument [Domain] of the Entity Listings, Instrument.",
        "label": "Entity Common Stock, Shares Outstanding"
       }
      }
     },
     "localname": "EntityCommonStockSharesOutstanding",
     "nsuri": "http://xbrl.sec.gov/dei/2020-01-31",
     "presentation": [
      "http://agreerealty.com/role/Cover"
     ],
     "xbrltype": "sharesItemType"
    },
    "dei_EntityCurrentReportingStatus": {
     "auth_ref": [],
     "lang": {
      "en-us": {
       "role": {
        "documentation": "Indicate 'Yes' or 'No' whether registrants (1) have filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that registrants were required to file such reports), and (2) have been subject to such filing requirements for the past 90 days. This information should be based on the registrant's current or most recent filing containing the related disclosure.",
        "label": "Entity Current Reporting Status"
       }
      }
     },
     "localname": "EntityCurrentReportingStatus",
     "nsuri": "http://xbrl.sec.gov/dei/2020-01-31",
     "presentation": [
      "http://agreerealty.com/role/Cover"
     ],
     "xbrltype": "yesNoItemType"
    },
    "dei_EntityEmergingGrowthCompany": {
     "auth_ref": [
      "r14"
     ],
     "lang": {
      "en-us": {
       "role": {
        "documentation": "Indicate if registrant meets the emerging growth company criteria.",
        "label": "Entity Emerging Growth Company"
       }
      }
     },
     "localname": "EntityEmergingGrowthCompany",
     "nsuri": "http://xbrl.sec.gov/dei/2020-01-31",
     "presentation": [
      "http://agreerealty.com/role/Cover"
     ],
     "xbrltype": "booleanItemType"
    },
    "dei_EntityExTransitionPeriod": {
     "auth_ref": [
      "r17"
     ],
     "lang": {
      "en-us": {
       "role": {
        "documentation": "Indicate if an emerging growth company has elected not to use the extended transition period for complying with any new or revised financial accounting standards.",
        "label": "Elected Not To Use the Extended Transition Period"
       }
      }
     },
     "localname": "EntityExTransitionPeriod",
     "nsuri": "http://xbrl.sec.gov/dei/2020-01-31",
     "presentation": [
      "http://agreerealty.com/role/Cover"
     ],
     "xbrltype": "booleanItemType"
    },
    "dei_EntityFileNumber": {
     "auth_ref": [],
     "lang": {
      "en-us": {
       "role": {
        "documentation": "Commission file number. The field allows up to 17 characters. The prefix may contain 1-3 digits, the sequence number may contain 1-8 digits, the optional suffix may contain 1-4 characters, and the fields are separated with a hyphen.",
        "label": "Entity File Number"
       }
      }
     },
     "localname": "EntityFileNumber",
     "nsuri": "http://xbrl.sec.gov/dei/2020-01-31",
     "presentation": [
      "http://agreerealty.com/role/Cover"
     ],
     "xbrltype": "fileNumberItemType"
    },
    "dei_EntityFilerCategory": {
     "auth_ref": [
      "r14"
     ],
     "lang": {
      "en-us": {
       "role": {
        "documentation": "Indicate whether the registrant is one of the following: Large Accelerated Filer, Accelerated Filer, Non-accelerated Filer. Definitions of these categories are stated in Rule 12b-2 of the Exchange Act. This information should be based on the registrant's current or most recent filing containing the related disclosure.",
        "label": "Entity Filer Category"
       }
      }
     },
     "localname": "EntityFilerCategory",
     "nsuri": "http://xbrl.sec.gov/dei/2020-01-31",
     "presentation": [
      "http://agreerealty.com/role/Cover"
     ],
     "xbrltype": "filerCategoryItemType"
    },
    "dei_EntityIncorporationStateCountryCode": {
     "auth_ref": [],
     "lang": {
      "en-us": {
       "role": {
        "documentation": "Two-character EDGAR code representing the state or country of incorporation.",
        "label": "Entity Incorporation, State or Country Code"
       }
      }
     },
     "localname": "EntityIncorporationStateCountryCode",
     "nsuri": "http://xbrl.sec.gov/dei/2020-01-31",
     "presentation": [
      "http://agreerealty.com/role/Cover"
     ],
     "xbrltype": "edgarStateCountryItemType"
    },
    "dei_EntityInteractiveDataCurrent": {
     "auth_ref": [
      "r15"
     ],
     "lang": {
      "en-us": {
       "role": {
        "documentation": "Boolean flag that is true when the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).",
        "label": "Entity Interactive Data Current"
       }
      }
     },
     "localname": "EntityInteractiveDataCurrent",
     "nsuri": "http://xbrl.sec.gov/dei/2020-01-31",
     "presentation": [
      "http://agreerealty.com/role/Cover"
     ],
     "xbrltype": "yesNoItemType"
    },
    "dei_EntityPrimarySicNumber": {
     "auth_ref": [
      "r12"
     ],
     "lang": {
      "en-us": {
       "role": {
        "documentation": "Primary Standard Industrial Classification (SIC) Number for the Entity.",
        "label": "Entity Primary SIC Number"
       }
      }
     },
     "localname": "EntityPrimarySicNumber",
     "nsuri": "http://xbrl.sec.gov/dei/2020-01-31",
     "presentation": [
      "http://agreerealty.com/role/Cover"
     ],
     "xbrltype": "sicNumberItemType"
    },
    "dei_EntityPublicFloat": {
     "auth_ref": [],
     "crdr": "credit",
     "lang": {
      "en-us": {
       "role": {
        "documentation": "The aggregate market value of the voting and non-voting common equity held by non-affiliates computed by reference to the price at which the common equity was last sold, or the average bid and asked price of such common equity, as of the last business day of the registrant's most recently completed second fiscal quarter.",
        "label": "Entity Public Float"
       }
      }
     },
     "localname": "EntityPublicFloat",
     "nsuri": "http://xbrl.sec.gov/dei/2020-01-31",
     "presentation": [
      "http://agreerealty.com/role/Cover"
     ],
     "xbrltype": "monetaryItemType"
    },
    "dei_EntityRegistrantName": {
     "auth_ref": [
      "r14"
     ],
     "lang": {
      "en-us": {
       "role": {
        "documentation": "The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC.",
        "label": "Entity Registrant Name"
       }
      }
     },
     "localname": "EntityRegistrantName",
     "nsuri": "http://xbrl.sec.gov/dei/2020-01-31",
     "presentation": [
      "http://agreerealty.com/role/Cover"
     ],
     "xbrltype": "normalizedStringItemType"
    },
    "dei_EntityShellCompany": {
     "auth_ref": [
      "r14"
     ],
     "lang": {
      "en-us": {
       "role": {
        "documentation": "Boolean flag that is true when the registrant is a shell company as defined in Rule 12b-2 of the Exchange Act.",
        "label": "Entity Shell Company"
       }
      }
     },
     "localname": "EntityShellCompany",
     "nsuri": "http://xbrl.sec.gov/dei/2020-01-31",
     "presentation": [
      "http://agreerealty.com/role/Cover"
     ],
     "xbrltype": "booleanItemType"
    },
    "dei_EntitySmallBusiness": {
     "auth_ref": [
      "r14"
     ],
     "lang": {
      "en-us": {
       "role": {
        "documentation": "Indicates that the company is a Smaller Reporting Company (SRC).",
        "label": "Entity Small Business"
       }
      }
     },
     "localname": "EntitySmallBusiness",
     "nsuri": "http://xbrl.sec.gov/dei/2020-01-31",
     "presentation": [
      "http://agreerealty.com/role/Cover"
     ],
     "xbrltype": "booleanItemType"
    },
    "dei_EntityTaxIdentificationNumber": {
     "auth_ref": [
      "r14"
     ],
     "lang": {
      "en-us": {
       "role": {
        "documentation": "The Tax Identification Number (TIN), also known as an Employer Identification Number (EIN), is a unique 9-digit value assigned by the IRS.",
        "label": "Entity Tax Identification Number"
       }
      }
     },
     "localname": "EntityTaxIdentificationNumber",
     "nsuri": "http://xbrl.sec.gov/dei/2020-01-31",
     "presentation": [
      "http://agreerealty.com/role/Cover"
     ],
     "xbrltype": "employerIdItemType"
    },
    "dei_EntityVoluntaryFilers": {
     "auth_ref": [],
     "lang": {
      "en-us": {
       "role": {
        "documentation": "Indicate 'Yes' or 'No' if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act.",
        "label": "Entity Voluntary Filers"
       }
      }
     },
     "localname": "EntityVoluntaryFilers",
     "nsuri": "http://xbrl.sec.gov/dei/2020-01-31",
     "presentation": [
      "http://agreerealty.com/role/Cover"
     ],
     "xbrltype": "yesNoItemType"
    },
    "dei_EntityWellKnownSeasonedIssuer": {
     "auth_ref": [],
     "lang": {
      "en-us": {
       "role": {
        "documentation": "Indicate 'Yes' or 'No' if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Is used on Form Type: 10-K, 10-Q, 8-K, 20-F, 6-K, 10-K/A, 10-Q/A, 20-F/A, 6-K/A, N-CSR, N-Q, N-1A.",
        "label": "Entity Well-known Seasoned Issuer"
       }
      }
     },
     "localname": "EntityWellKnownSeasonedIssuer",
     "nsuri": "http://xbrl.sec.gov/dei/2020-01-31",
     "presentation": [
      "http://agreerealty.com/role/Cover"
     ],
     "xbrltype": "yesNoItemType"
    },
    "dei_Extension": {
     "auth_ref": [],
     "lang": {
      "en-us": {
       "role": {
        "documentation": "Extension number for local phone number.",
        "label": "Extension"
       }
      }
     },
     "localname": "Extension",
     "nsuri": "http://xbrl.sec.gov/dei/2020-01-31",
     "presentation": [
      "http://agreerealty.com/role/Cover"
     ],
     "xbrltype": "normalizedStringItemType"
    },
    "dei_LocalPhoneNumber": {
     "auth_ref": [],
     "lang": {
      "en-us": {
       "role": {
        "documentation": "Local phone number for entity.",
        "label": "Local Phone Number"
       }
      }
     },
     "localname": "LocalPhoneNumber",
     "nsuri": "http://xbrl.sec.gov/dei/2020-01-31",
     "presentation": [
      "http://agreerealty.com/role/Cover"
     ],
     "xbrltype": "normalizedStringItemType"
    },
    "dei_NoTradingSymbolFlag": {
     "auth_ref": [],
     "lang": {
      "en-us": {
       "role": {
        "documentation": "Boolean flag that is true only for a security having no trading symbol.",
        "label": "No Trading Symbol Flag"
       }
      }
     },
     "localname": "NoTradingSymbolFlag",
     "nsuri": "http://xbrl.sec.gov/dei/2020-01-31",
     "presentation": [
      "http://agreerealty.com/role/Cover"
     ],
     "xbrltype": "booleanItemType"
    },
    "dei_OtherReportingStandardItemNumber": {
     "auth_ref": [
      "r11"
     ],
     "lang": {
      "en-us": {
       "role": {
        "documentation": "\"Item 17\" or \"Item 18\" specified when the basis of accounting is neither US GAAP nor IFRS.",
        "label": "Other Reporting Standard Item Number"
       }
      }
     },
     "localname": "OtherReportingStandardItemNumber",
     "nsuri": "http://xbrl.sec.gov/dei/2020-01-31",
     "presentation": [
      "http://agreerealty.com/role/Cover"
     ],
     "xbrltype": "otherReportingStandardItemNumberItemType"
    },
    "dei_PreCommencementIssuerTenderOffer": {
     "auth_ref": [
      "r5"
     ],
     "lang": {
      "en-us": {
       "role": {
        "documentation": "Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act.",
        "label": "Pre-commencement Issuer Tender Offer"
       }
      }
     },
     "localname": "PreCommencementIssuerTenderOffer",
     "nsuri": "http://xbrl.sec.gov/dei/2020-01-31",
     "presentation": [
      "http://agreerealty.com/role/Cover"
     ],
     "xbrltype": "booleanItemType"
    },
    "dei_PreCommencementTenderOffer": {
     "auth_ref": [
      "r6"
     ],
     "lang": {
      "en-us": {
       "role": {
        "documentation": "Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act.",
        "label": "Pre-commencement Tender Offer"
       }
      }
     },
     "localname": "PreCommencementTenderOffer",
     "nsuri": "http://xbrl.sec.gov/dei/2020-01-31",
     "presentation": [
      "http://agreerealty.com/role/Cover"
     ],
     "xbrltype": "booleanItemType"
    },
    "dei_Security12bTitle": {
     "auth_ref": [
      "r0"
     ],
     "lang": {
      "en-us": {
       "role": {
        "documentation": "Title of a 12(b) registered security.",
        "label": "Title of 12(b) Security"
       }
      }
     },
     "localname": "Security12bTitle",
     "nsuri": "http://xbrl.sec.gov/dei/2020-01-31",
     "presentation": [
      "http://agreerealty.com/role/Cover"
     ],
     "xbrltype": "securityTitleItemType"
    },
    "dei_Security12gTitle": {
     "auth_ref": [
      "r3"
     ],
     "lang": {
      "en-us": {
       "role": {
        "documentation": "Title of a 12(g) registered security.",
        "label": "Title of 12(g) Security"
       }
      }
     },
     "localname": "Security12gTitle",
     "nsuri": "http://xbrl.sec.gov/dei/2020-01-31",
     "presentation": [
      "http://agreerealty.com/role/Cover"
     ],
     "xbrltype": "securityTitleItemType"
    },
    "dei_SecurityExchangeName": {
     "auth_ref": [
      "r2"
     ],
     "lang": {
      "en-us": {
       "role": {
        "documentation": "Name of the Exchange on which a security is registered.",
        "label": "Security Exchange Name"
       }
      }
     },
     "localname": "SecurityExchangeName",
     "nsuri": "http://xbrl.sec.gov/dei/2020-01-31",
     "presentation": [
      "http://agreerealty.com/role/Cover"
     ],
     "xbrltype": "edgarExchangeCodeItemType"
    },
    "dei_SecurityReportingObligation": {
     "auth_ref": [
      "r7"
     ],
     "lang": {
      "en-us": {
       "role": {
        "documentation": "15(d), indicating whether the security has a reporting obligation under that section of the Exchange Act.",
        "label": "Security Reporting Obligation"
       }
      }
     },
     "localname": "SecurityReportingObligation",
     "nsuri": "http://xbrl.sec.gov/dei/2020-01-31",
     "presentation": [
      "http://agreerealty.com/role/Cover"
     ],
     "xbrltype": "securityReportingObligationItemType"
    },
    "dei_SolicitingMaterial": {
     "auth_ref": [
      "r8"
     ],
     "lang": {
      "en-us": {
       "role": {
        "documentation": "Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as soliciting material pursuant to Rule 14a-12 under the Exchange Act.",
        "label": "Soliciting Material"
       }
      }
     },
     "localname": "SolicitingMaterial",
     "nsuri": "http://xbrl.sec.gov/dei/2020-01-31",
     "presentation": [
      "http://agreerealty.com/role/Cover"
     ],
     "xbrltype": "booleanItemType"
    },
    "dei_TradingSymbol": {
     "auth_ref": [],
     "lang": {
      "en-us": {
       "role": {
        "documentation": "Trading symbol of an instrument as listed on an exchange.",
        "label": "Trading Symbol"
       }
      }
     },
     "localname": "TradingSymbol",
     "nsuri": "http://xbrl.sec.gov/dei/2020-01-31",
     "presentation": [
      "http://agreerealty.com/role/Cover"
     ],
     "xbrltype": "tradingSymbolItemType"
    },
    "dei_WrittenCommunications": {
     "auth_ref": [
      "r16"
     ],
     "lang": {
      "en-us": {
       "role": {
        "documentation": "Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as written communications pursuant to Rule 425 under the Securities Act.",
        "label": "Written Communications"
       }
      }
     },
     "localname": "WrittenCommunications",
     "nsuri": "http://xbrl.sec.gov/dei/2020-01-31",
     "presentation": [
      "http://agreerealty.com/role/Cover"
     ],
     "xbrltype": "booleanItemType"
    }
   },
   "unitCount": 3
  }
 },
 "std_ref": {
  "r0": {
   "Name": "Exchange Act",
   "Number": "240",
   "Publisher": "SEC",
   "Section": "12",
   "Subsection": "b"
  },
  "r1": {
   "Name": "Exchange Act",
   "Number": "240",
   "Publisher": "SEC",
   "Section": "12",
   "Subsection": "b-23"
  },
  "r10": {
   "Name": "Form 10-Q",
   "Number": "240",
   "Publisher": "SEC",
   "Section": "308",
   "Subsection": "a"
  },
  "r11": {
   "Name": "Form 20-F",
   "Number": "249",
   "Publisher": "SEC",
   "Section": "220",
   "Subsection": "f"
  },
  "r12": {
   "Name": "Form 40-F",
   "Number": "249",
   "Publisher": "SEC",
   "Section": "240",
   "Subsection": "f"
  },
  "r13": {
   "Name": "Forms 10-K, 10-Q, 20-F",
   "Number": "240",
   "Publisher": "SEC",
   "Section": "13",
   "Subsection": "a-1"
  },
  "r14": {
   "Name": "Regulation 12B",
   "Number": "240",
   "Publisher": "SEC",
   "Section": "12",
   "Subsection": "b-2"
  },
  "r15": {
   "Name": "Regulation S-T",
   "Number": "232",
   "Publisher": "SEC",
   "Section": "405"
  },
  "r16": {
   "Name": "Securities Act",
   "Number": "230",
   "Publisher": "SEC",
   "Section": "425"
  },
  "r17": {
   "Name": "Securities Act",
   "Number": "7A",
   "Publisher": "SEC",
   "Section": "B",
   "Subsection": "2"
  },
  "r18": {
   "Name": "Securities Act",
   "Number": "Section",
   "Publisher": "SEC",
   "Section": "12"
  },
  "r2": {
   "Name": "Exchange Act",
   "Number": "240",
   "Publisher": "SEC",
   "Section": "12",
   "Subsection": "d1-1"
  },
  "r3": {
   "Name": "Exchange Act",
   "Number": "240",
   "Publisher": "SEC",
   "Section": "12",
   "Subsection": "g"
  },
  "r4": {
   "Name": "Exchange Act",
   "Number": "240",
   "Publisher": "SEC",
   "Section": "12, 13, 15d"
  },
  "r5": {
   "Name": "Exchange Act",
   "Number": "240",
   "Publisher": "SEC",
   "Section": "13e",
   "Subsection": "4c"
  },
  "r6": {
   "Name": "Exchange Act",
   "Number": "240",
   "Publisher": "SEC",
   "Section": "14d",
   "Subsection": "2b"
  },
  "r7": {
   "Name": "Exchange Act",
   "Number": "240",
   "Publisher": "SEC",
   "Section": "15",
   "Subsection": "d"
  },
  "r8": {
   "Name": "Exchange Act",
   "Number": "240",
   "Publisher": "SEC",
   "Section": "14a",
   "Subsection": "12"
  },
  "r9": {
   "Name": "Form 10-K",
   "Number": "249",
   "Publisher": "SEC",
   "Section": "310"
  }
 },
 "version": "2.1"
}
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>ZIP
<SEQUENCE>15
<FILENAME>0001104659-21-000314-xbrl.zip
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
begin 644 0001104659-21-000314-xbrl.zip
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MC)7M+EN"9T(;(N@;?&3&A&GPKI]OOH&R2F@]A[(2&L$,3@.M]>6+;S<L?CO
M08AWPA*>:MPG)!E3>D1W,^EBHX*BE9F'VV U%)O7!'0E(=^JH)&(C@FDKP 4
M$&Y>G5L=.@S"X(OM. XQ"',J57P"/9)RF]9S2CCK,8@\9(CJ@W'VTPFA\'?!
MTL9$"&G=;ANNB+A8DC!K9QOXT'+OO:DDAY\V?>06MLT6RKM]_UC:8>$A%K6]
M?.F$K&PF%4&/"9:=5_14B+#KH-259Y<9I>7/@J<D4@W1E3C(UHD";7E9 1T;
M*(@%9 &)$DY3OAYGDDHEI0B4%S6YNK)O;J"'LGYK.A^T/<W<O/.*V$!!K^U9
M)^#R!?VRE=6L04J$4U[2;MG%SUY&<6XI012=4YD;!U9$)J ,LUZ=ZOD\<V8<
M_7KJ&.3.T1[R_T'%G'37K=A2@/_'4CM.?[K&HD/\28L4S[-MU++52F60F&O)
M9;,RG_(=23.I)13WA$L>=B$<;MNA4AOI:)+I.DE,;F"])$K>!DDLG=A56>A%
M)+? $_:J"2R=_PNN(3N_DN@#-[J,O#.;^3^+S=/)M#;(Y\T+CXSRG9 OI,#"
M#FO%Z&I6F69>YD3GE8;S2EA_9S*;);)Q%F_,1V4JC'I=W[73Q/+A/7Z9_1Q9
MR2HE*;>)^T!Y7P:;6G8^C\5^;?FYI%W^ 5!+ P04    " "[@212E58)K/X*
M  #@AP  %    &%D8RTR,#(Q,#$P-%]L86(N>&ULS9U=;^.X%8;O"_0_L-Z;
M%AC'<8(ND.S,+C*>9&%L-DECSVS;1;&@)<810I,!)2?VOR\IB;)$\4A*BI+,
M148COH=Z*3XAJ0]2'W_:;2AZ(2)-./LTFAX=CQ!A$8\3MOXT^KH87RQF\_D(
MI1EF,::<D4\CQD<__?CG/R'Y\_$OXS&Z2@B-S]$7'HWG[('_@&[PAIRCGPDC
M F=<_("^8;I5>_A50HE ,[YYIB0C,J$X\#GZ^]'W&(W' [+]1EC,Q=?[>97M
M8Y8]GT\FKZ^O1XR_X%<NGM*CB&^&Y;?(<+9-J\R.=\?E3Q'^D2;LZ5S]6N&4
M('FV6'J^2Y-/H]IA7T^/N%A/3HZ/IY-__GJ]B![)!H\3ILY:1$8Z2N5BBYN>
MG9U-\E0M;2EW*T'U,4XGVDZ5LTQ-.O0U)VERGN;VKGF$L[S2>P^#0(7ZWUC+
MQFK7>'HR/IT>[=)XI$]^?@8%I^2>/*"\F.?9_EF"E":*@U&Y[U&0![L9*L1$
MQ4\86>.,Q.I 9^I T^_5@;XK=U_C%:$CI)02#[!<9XV\RJ"):[-W1"0\OF3O
M<VU&>[(O_W9$]C\4H![OO A+GF'Z+O/U2.>V;\C[SO@ASOV9EJT\>=^9KD7^
M7VQG;<MO/KWV\TK5SFNYU;!(=IGLOTBL3:HL.EK@_ AYQU#F7>7.HT:^5+7F
M7+3+GLI\\SQ3$AVM^<LD)HG,^^18;8S5QOAX6K;8W\E=?\RX' U<K-),X"C3
M^>6%^32RI$],8TIY(;0[+**>(I:*2<1E!_6<C6EQ,HOP!\$WUL.69>>6Q#_H
MJHHO3HX\!&"T(1,DY5L1D3?53=TM=)9*1QLJ%6I81=CXZV+T8ZY!OVO5?SY.
M#KDXJVXY'-IN",N6,E]+.9K)KBK;9DK7=3TMB*JV&#)K6DN0TGBIY@MY^%A9
MN*)X;2F$D>ZJHJVV=$TW$H.H:ILCLZXK#5(BOY7]A:212)[5,+^K- V9\ZJW
MF&P14-.$!4+;&,Q#3>NUJ;\GZT1U.<J(NOHE:F='PP;H77<&G;;-WL$J#@*=
M(0[!_J,>A*HHKS1=,+;%])X\<]$%45/FFAV;21.9NB8H4BS&0$ *+2K$7KGX
MQU9>VQ-!][UHM)2NZ0"LFH 8LJ 8L7L#,:GD(9"R%)BEB6K2>E%I2YU?D@!F
M6Y<GABXH6@!S\&5+I0^!E\4CH50]0\"LOW&QB5TS QLVJ6DK@^(&M >2DT>@
M,B0T>"Y?U A>#J(&%KFF]XE0RW87194X6)!,AP-9RL.0BO/*4^U!1@])+:5K
MA@"K)CV&+"AN[-Y 8@HYRO6AH'+)XD&@5#H_F!@V[9"4H@ 1:3KK T2J_>-Q
ME:01IH6C*[DO[2BD1>L:$]"NB4I+&!0ND#L0F2) DY.'!(#-OP@6PZ"I*?T@
MT[)J!Z:2!8B+Z:T/%J7WB,IL*T3#.]P'P5)G#WI[S%;/? %=$+CTF&L]"2[D
M#5R\]DF7+$NRO7I;[V:[61%A*6);XHH0R)PFPTP/@@C E$E"(4-*APJAQ_K7
M3QM8IEZ5! MERMQR8#?99*&I"8@'JS& B8,V?W/5(Q<SV58)3.<L)KM?R!XL
M74OGE@S 9A,-0Q00&W9G !RE&.5J).4>\;@3R0:+_2*)>CJ/MM M()#1)B&F
M*B!$ &L (Z4:+>8S_WW+$N_FL80V>4B*]]![6 'U;I'IL=TD!Q '!%"W0X C
M&82:4?YQFK.(BV=>>YUBQK>R2=S/> R/7'JBW*(UJ A-P#I# L)LB$\ MD;H
MA^*=%\35'*(\ Z1R\,C=11S+TY66_UPGC$S!LV#5NF6LPVZ3+(LP()Y@=P!%
MI?*#WD J!MVRL- Y>4.!3_RC<S(4G9.@T3EY#SK+5QX4.J=O*/"I?W1.AZ)S
M&C0ZI^]"1U9_ .W.3&[>BB5_M;T:#BJ]@-.V:L7F( L/FI:W/F14@!KGJ!#_
ML.3#KEMQ)_A+PB)X0 W)O6 #F+:R8VC# \ANL(^B:KBLX_RC5 [<>_]@M,Q/
MB],T:6]N"DUXJ#2-]38TA=H_&'<\S3#]=_+<><EN%WN!Q&K8BDI#&1XP-GM]
MV!0Q2 ;YNP0OT54/1JP3W(QT=U.5+;8.4Y5KB4&@8'/4GJI<W&TI1'XJ6_$J
M" 9:AV:RLZJVF*IJNI861D6W#;7J.?\;EQI_?]1J71IZ]\@9_.I!6^*JOB%S
MNL[-]"#J'3!EUGTN0[G.Z_U\M4)&:F_0:VG.>GS33M7!ZX0@ZMATT^J^=;J7
M.OU-))D\_HQO-EM6/C.RO:D(Z%S5=:=-7>]641 ,=#DS>2BUJ"GV L>"TR1*
MLH2M?Y47JR+!MK+91*ZP@ UJ)MJ*((  ;9DT'(1(*[V@<">( I+(ZLBG*:JE
MDL3MPX-U%- E=H5&OV&-"*P, I5>>R8R,F <U2)0$8+RF!#@F:?IEH@W(60)
M\002:![ J:4/$2K(9"]:1:!_PA8DVLI^<S\]62V3C-HN0]L29[T48*[JHXST
M( @!3)E$Y&F(/Z#IR5]7?T,ZR@L$-WPIL%H>=['?K#@%UM.RJERAT&%1TV"1
M! $$[,MDXH:C4HH*K;_UMAJ6+84RTEUA8+6E 6@D!E'U-D>MAJ!1XUX[@<M=
M]"BM$6!JA%WFNC.PF30[A+HF"! ZC+4N7$HITEI_4R,.7=FZ?W"P]C8X6/<,
M#M8A#@[60P<':\^# WWP8J$3V5+=KFBRQL "C)UJUVAT6#8IL4B# @;V![8?
M50@ZQ/A9NS-?P$U]H$!L<A=7<L-25D#G;/7.+IO5\ITV41"D=#EK+>!9+*E7
M$R.E]D/'-DXR$A>6KA*&691@6BT$:;NGWA_BC)F!YBM\>O1AD#3,9 NJ(DRO
MUU@%'A;U]',SOGC-XS="Z2^,O[(%P2EG)"[NP-B>.W7KW;Z7TV.[^6H.( X"
MJB$.@1=T5-#X244A'5;>/_/(TS=.MRS#(I__+FRM%*!SRP]@L\F-(0J(%[LS
M@)-*C JUS^GDQ>H7U1"L^"(36$Q([GAR>:=I8XZY51L0.9T&H1GGY9HEAY%S
M$>5U$FA&U)<TDA?R!6>X= B6&I*[GO;99=J<[VG3!@12IT%PAF<5HQ:\P9HL
MSPO?B)D<B*UYQYOJALK]\C<MB^T5<"I)0)#8?'6L@R.0UGHD8K'!E'[>I@DC
M*=PU&2JW1%@M-HEH2 (BPN8+("*7(JWU2,3EAHBU[/9^%OPU>RQ7I05+"*C=
M$M)IN4F*51H0,5W^ ')T""IB]$+"/A':'196+]:3A,MKD3J&!S1KD-/2A80-
M9*[%#"61NC]SPS.TY.AK2E#V2-!E^?F^^HKX13Y^O\$216J"1C%R9S$6-I"Z
MQ,Z_QP(:;GV5I:4, J=>>_ 76JH(I$.\L',K>1;U*[[<RCPC&W#>17^(*XZ&
MFM<T]>F#8&J@29.L/*QY&9X'(A7I?V6F^E+_\ "P(7(\;K88-(;--440I("V
MH$%S_<L)/E<&W*YH$EU1CN&[,@V-X_4 V_:,I0 /@H X:+N"%@#,A2A7>J3@
M,V9/8ON<1?L[P2-"U!M=:=5^]=VU&QCMEIPW%:G)U*#0@&A[BU^ PT,6J);'
MAUH?YO\6H'IQ7:U5QZ.GQ2.6I_%VFZ6J9Y7VX/OHG4&.'U ,*(#QF*(C(B
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MJTHS,90)+#_"*H3[R!3+FR0_#<HC!'ZG><KT:L3C^F'DV!:+G"0K#0LD9/[
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MRA]_LFN%$$ GS6#UB)@Z> +,R (!0&7LAYF6MP)17<*HQP)Q*T(UQ3<-'"\
M;#$ QUFG*Q5FA!P$ZE^ (@UPBJ:A2 &R &0_2Q!CX9QE,=@BN!GK-,D(;1XH
M1 2*A8^F"G3+*A,0\:K;7M]B0]!P>*[-KD%#8?PI^EZ$<B)8+%((L+DV[VYL
MPR("8$ R;\'50$+HF(B4RQ!8%(,5U@S?!N6'&]Q/E-:@,,V&!HI5HFEI.&JH
M?([D@.YN=!@Q[[GHQ$F6X.+1V*5@!T#8$8P_T4S$:%Z<26@VUKN>-5SXK+6(
M!A8)/+C>W7:LS650%@Z:KY006+9VMX"3R.!K"@]_DA&P%E"!@NY6!%VQDIK-
M(-HL08H#@N$:QE,B:'&(QOA8.+,G_VVL>T)6<L2VVANO2;03'M2]EHB(RQBY
M8E8!9C2"]YJ-+E#%YH(GNLWZ%7IWUMM;KW%LY WXA0QG!;J&^#XB71><"@J.
MXUAF*: $H&@!&R4J*NOE..&!L(QM-BQH%V?O]MH]FOV;9QXGH'B!TR"N-7B+
M9P+T?A 0=B#HFGME5F@." 282A40MC$D,. V?EB0Z0%X&W:4D#PF@P&2\(4(
M-!FHC=WV!HO*!JKDS('@V43Z$Z9%<FLLU B=-1C  &20:" 4@0D&* 71C>%.
M7-:V-XG&^$-7C/C4A7[>-RG%=KO[^KE(FD21!S.UALNQLMG(^<?&(D9?@/(&
M7K&M[3MTZBX]=;[%@]_31&BX3_XE1H^:D$F!<2,%PDHG/&XV=CL='%L"EI3$
MT;7$B&]A!=W=-KLH#&I550%*SJ-QW[?>$Y&:3\-V5R_GF0C>Q'?=N^.[\RR%
M9.'F^85W-79"F;42$$KNL]FP?M?D(EUGEBC@@Q04[!,:BQ!P.([E2/H<(T0-
M.<[4FC& ZE! O #VZ=4.H-=://*JX+L[SG4CXNZ("MK-1AW9=^8_E;E[F]6I
MM_/?SP?2BQF_R_ ?'U)/L\3SN+!TO9VZ(!/<;AIBHHP7B^ALP]O:['I;6UM,
M3R!*UR[Y!@\(,2R$Z<J_L?D%OMB?)@!#2@ !2S,.*84 E4@Q:1\)$PXHF!.=
MKC$;5ZD I^R!/?';P'94'$.*27S*)$*.(BB,0IB7(X*%N+:WM=7>?F88+:40
M"YL/L/Y<FD5819M#E$UA &1%H7D(D3/NS$3D8,$T05(8FPT(-I,P*LJ6IRT8
MJV4V,IS\@,/@?R,4GZ:M#+ &8QAJ;&.;KK?9Z7J]+F9V.5(J*,%0"5ZR(9*+
MZZ1/K[\"F>UL8HAH@+;DUU/IRRD%#I^1_NY.N]=LY!9KA#R"+ OS7AAH)(1)
M.<6GJ8BU_1'Q&[SI@\4$W#-%X2(/D/N&4UP7NT'2Q(N6+V!'TT0.,[.QE//V
MF<"NGYHL!A+5JBYB6K?N=7N[WNY.+Q=Y83< )D/AC(HU$.(3\(J$4(]'YR)Q
M-Z L<!@KX5*+NR7?;+SJ==;;/?8B^H?QBF[\_VFUV'O<]MUC%Z"Y8+)A_0+"
M!9B+M5KN^.7D]/?J88;9_.[VIODQ=<N<V.RQ+;QFM\C=M85=\O():XG<\NH/
MWL&<-=,/(?Z_:0T%P QHG!+-99*V:BA",N\[98DQ[Y SAAG?N]ROR<6$H9J1
M'O-AB-$D66)=G]U!! QI<AR457O!ZY,:U26,>T^L+,57#N6O&A:_>J@>XBQ_
MKK#P6<-]ON?XFO/,NS5EZ4C27C"[$CAL"-KTW@IF0((Y.,*C2';NQ&,.*(L9
MS8KPS2\2Q)0'*/U"FQ;.<HL5'9^?F>\V>FM?.=?R&=CG3<D5N2>[Z"N8:7&]
M-0MP8OU"PJIGU_\03AKW_L+,AV#F91X[F0L0]1C^OK#W*]G[4:26MQ<N:#2_
M+VTB^<+9K^1LOQ2=&Y8"K^V_'*\78?W8S/["SX5@<; 8L[&+GETE>RP9#W_L
M=3:\WOJ.U]O<?%OC@JV_[VV]KG&WBU\>KAW^VC.;(/WK#\QYWI7.UHU]KTBB
M%@W5 ;OW&+!N$?50=H/?A]R:KQC7#K<W>M[.5F?5^(]*_#^,U:T7)K_@^1FQ
M^@7/2.VK583>)R>MY>_&-OI!;V-CYPD8_0V.^X^)3$6-M_X2#[U^#P_],&)_
M>&1^DY!W=C:]W6[O8<9\""J_*^XMF: 7OKV@[@5U#T'7DE_[)I9M;GO;Z]M>
M=ZO[6+Q[W,SSL[YLQ7;!KQN/X.#NLS5QC\WKAT7PX\QHX92?<]]C/^,_8S[^
MZ9):LI4O$OHOD]"++GTODGK1I6^+8!Y5.+L0.W1WO.[.4E3]J%)ZBKQ]Z2"[
MCBA3=%4]X'Z@H^TO"7*_ZJ3E\Z#_JF$M(O(OLQYPZ >C^#OEZ8K4ZX67WPT^
M7_8"OF<LKM@5^!88]CKK&'UZV[LK]@8>"(C+C1^^]X\$#XX.\T_Y+K$&Z+@H
M9'^RX@E[4<:!H$%WUMO;F]7O-?_3)7!L@K7_>>%"M?A_RN=14>BV:VK'\ /\
MHER./E<N?\H?" AKL&RH]!D_?;CO*M,JG\V'0FM;_]9]7:'6E*05O_%C?UTN
M+\!J<>%GJ735RHO+*LHQ+.4\#/&M-.%^FF$C!'PKG--4/&PVU! 8R)^FU\&3
M5H5A_=#@''E#\GAV56^V0<<?@K[,AR<2 !X(=EK414[XK6@V2F6Q;")UJA+I
MVR_N 160 LD8^W=010$5K:UJX.'9+B!,<QFP?RDQ9]10Q&,7 &X9T+/8J&4B
MQ8@-/EF@-AL0]4M?)&W75.04$)F%06P_5DZQ*(&J-1WM1G>P,!\7%0<JTTR,
M1J" ;)JE^#DSW!_.X1$)>@H:QH$I/O")8[DZ5@:,0,>HY%DS'LE IZ:$*E(Z
M9?X$E$+$8]1%+(>1B9]%^*VT+T#YSK.DHE Q5@0"A2+&XCLL7G 5>H;)@0BQ
M@IGIC"JI08FEOFF96@5X(A%IEH#Y315^DFWK:";@P:B^:C:1(17/3F1,%0\3
M-7-E@Q+KN6*LDS U#APG3EM 6" B6*V*8MF"M<2Q"-E,)6'09G]@QP93]DAI
M%]"'RB_C# 8W!$22..,J()$#PTR&@2MDFH 7!LEC)5.(*5MMQ;6KN7 ])MH6
M&L^DR.+HL#]4 +1ROQQ6:I?S?$H05ZT0T0> R\ [^%C%DV*5=["JATJ:P'A8
M-@93RA#KW,9\7%3F+'7Y*9JH6'5UI=W5)B:+'4S09Y?+S-OLB[R]FL74+BBP
M+4_($A90IC(YR'Q*='B5OB=;MN])LX%CH#[93X*K-6Z]7E'?R#06 @JL;J(E
MFKHZ7!E5;N@I]X5IDK!8 5PIS@,AA)+,B(I-)2$*^T^5W+ K>F#P"0W 6)2*
M/?4\@@#9F=K^R;%5S3;NQ3">]X* I8&5B+CI:V,L+[M%,;&#W^I;V_UV^.Q"
MA,HT=]14]?;9N2D!W\,YKTQ4O<]^YV&&MY^FY.K.4\=*[U$S9Z=FR@Z55)66
MZA:YSZ[G4QBYG_"A]/?91QX)PXB/"I?7JY16N;?PSC^Q[.NI@6HW4EMGX-[1
M]ERA27JZR/8T7^WI4TQVC8$=IDR8T!C39.VN=K%-*S2<P)8QCA6V<Q?%,L55
MQLF9VWY<V!T$(M[8EYBOY4[!-,C264@5KQ(#,C*GD>"Q#12MTK/>=M\U/()+
M64+MY)J-OD^FOKN[ONYA81V/3".I<CN]XGGLMI9WU4,R\M&[@^71"T-?S+*Q
M- NH@IVG_+B;I>)O,&^%%S6$K?YDD:5EWIF281_[PF#CE+EM'#2"0)$G8+E,
M&:ZF+0;JH';'6%:$16!PD<A;#"5*"SV#_YA\%*(2=%#%BG<WB5%YKPZ*_O/A
MJ4W&-$NP;Q&6/XY,/Z YTN#R";V*]+8[J*@C&QVYZ9 3@ING/$>.)#ERX$=F
MFMHLH1)[9\E8A6H\-TP&85GI1+S(I>RE&<0-B]?T!+.DQ:M3E2(!?.EQ(U%W
MM< "%E;[Z=+@0MPL7BO*NQ?O0*!'8<[2&^4(:/'F$#(CB/26*?)KUV74<_FR
M".3R970G/F1]B]=MMK-,*/9PJ2%E&H*-6GC6]HYQ5P$HIOY<2XCNL'D8^&N-
MEX&SB<DS/P^@(06U@&I;TP[!9-%6AG#MFS9)B&TVRB!K%,R(CMO6,_8BDFS>
M@-@8YAA3P+K*IEFVTBSY2I; 6HH%(:@.4T#>V&G,'0I=6=A8*3"M'%6-)#_2
MV"Z":P@V4546EUM;M#S$S/.O+!B31B=B1-N7V G M$VL!JUSE3&C)"Q6^#BH
M)Q!R!\&FO11,C0;P5F'3OYL8\@.B*(OIWY!E0 8/Q&.'4Y*5Z;&(;#7<XZ9'
M8MX7 =T.!&L1MAC3*(RAF*OZ)9J].&6D9 8@;6"H0HE$"P/(&(U@V2OZGY&+
M0HMC96R@D4L?MPQLKTH@!DQ[J&;P #Q+C,/E PPLE+@_00TUO$% W](&9+-Q
M[+I4>L!0X?P1[9Z4.R-93GBX;8';)-0>"9_,C10D'-C>3>#VC3"&'.\[<1:;
M&>9Z#'X&UY  :&XE9)4>6/*$'9__?GK2ZNYZ-@^J7^\*WA1L,/UCRYP855LZ
MHG=!G^>ZF)%/+>>\MON*P^\X5$.\"42HR+Q?4&9;SAJW"W$.)<K*"MVMB$F8
MVJ_6\"_2T6R@=X"L>2IBTC0KO5(:K<M=.G 'A_J+NO89UKJ@C@RI;0!:5+?-
M!K2/T*?YHAP]D9?W@8V>:8DEL6$PY>Z9W2"PO',2]&RF;Q0\Y3?8P$\YEU]Y
M%)$6&3<O:)V&!SE7 YD(^U/&]H=AL?2;#0,DO3@_*^7F9#P@<-/ )> ,C[!Q
M/NDN2.,#> YEL$H;&-3M%+L'\JS8U$-?F@"C8!C:03!SD5T 8VDC@"*.P1NY
M60BD]C.MB[N+.MRG1G00WN >!,KS/88YW4[K?TV'1=>DLMJ'-.^%9^1@39$,
MJ8]#OF%:BJ3PJ3P.Q&UPN_%7B4<';GO@[:+T%ZG^U70V0ONT3/FO.>6FG:2E
M_4I,4TM\Q^W,<&QA&E+7Y9RGV)+&[>H"I&?TU%#0AJCIXD@[.)I:XJ*24WR'
MKX-DE6E%!#X /'R"6\7.YCC=@F>=OH%W*^V 1+B.BB$K8P4AS1$!<P2'%O4N
MRYZK..,#X+G%[73GR<E,F. 1%#:E+6*[PQ:SF%M*'+P+<X8:+5"+;/*Q;(4T
M=B,V7141E':K[99#C#*4H>GSP7Q4]M3+^R]2>RE"-WI:#!]PT99?!BLZ1[7=
MA[:[<+5=)"O;RVY>X 'M'F-/3Y39Y>#TNL9_?E91$L*91I27#P4 M,:HWI$)
M.O[;L9>R2=3X"!M7\MR24"MQH$^H49O]%M,I72C&%/0GPC22K6XLX@)"+B/4
M->!V?I)&;0)L;W*\LSH@0;,M3'.C MQ(4 P)="76<1'AK7EM051+J"Q'CFAO
MR]&7"P-G4HLV>Z*,_DFW#]Y3B&/ZRY:X:#<"ZB//#&)#%'G5B>=; G:#-,&3
M7NHY6AC1#SSF8Y)GCMP3 VVWX=T''9]CEU.0[/M\[&.GZZ;S[641OISGX8M+
M0G 4.]TE.IOW1H?R$[D\Q!_5:A*HC/,5)3L/@2JP \."$%*;E/H,*H]<\AT^
M"DG)G8%]0E>< <!33=$% 34F+$$;"J&'&MK\GQLIG%H/#*.$9KVF WDIOEA<
MR4P,M42]NG.;^EFBNKQ]$X@1PK4,P\5^Q\U&3<-C!YB%OJAZ\:\O:.>?P6R8
MGH'%)P0C^8G.4V+C]V+;XCZSYQ2<\E*DI06  S),@U_J+$P1 AT3S4LMQFV[
M^5+["CLX'@>9()B.I3$.1;8%TC1^L[M1TRP!<ZC-7PFA[G74P!"_9W@>('!_
M5.2''WYXL!G,Z4>5^$?;1\[_)LS1X3&&Z'ZZ]S2S/?H6O9OK. 0+!PH:BOBQ
M9Z*O*PHO8C^N>.195Y^$/^JT/_8V=MZR[?7MUD9WM_/(DSW-GWCZ@L/&]=)A
MXQF'./WY'RZN?_GAXA.=]*U Q3O\DY'TW2C]J<G_!U!+ 0(4 Q0    ( +N!
M)%)?K?G 0@,  )8,   0              "  0    !A9&,M,C R,3 Q,#0N
M>'-D4$L! A0#%     @ NX$D4I56":S^"@  X(<  !0              ( !
M< ,  &%D8RTR,#(Q,#$P-%]L86(N>&UL4$L! A0#%     @ NX$D4D=Z@XE9
M!P  .ED  !0              ( !H X  &%D8RTR,#(Q,#$P-%]P<F4N>&UL
M4$L! A0#%     @ NX$D4C F(A#]%@  -:P  !$              ( !*Q8
M '1M,C$Q-3,U9#%?.&LN:'1M4$L! A0#%     @ NX$D4E=D8S':%   <7(
M !4              ( !5RT  '1M,C$Q-3,U9#%?97@Y.2TQ+FAT;5!+!08
1    !0 % $0!  !D0@     !

end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
