Sheryl Kaul's questions to Agree Realty Corp (ADC) leadership • Q2 2025
Question
On behalf of John Kielczewski, Sheryl Kaul asked for an update on Agree Realty's tenant watch list and the final outcome of the previously vacated Big Lots properties.
Answer
President and CEO Joey Agree and CFO Peter Coughenour confirmed the watch list is now 'de minimis' following the resolution of the At Home and Big Lots situations. Agree noted the At Home asset is under contract to be sold. He also detailed that most former Big Lots locations have been successfully re-leased at significant rent increases to tenants like Aldi, with only one or two remaining to be addressed.