Agree Realty Corp. has sold a 176,352-square-foot shopping center located in Iron Mountain, Mich.

The value of the transaction was approximately $8.8 million.

The company developed Iron Mountain Plaza in 1991.

At the time of sale, the property was 98 percent leased, and was anchored by Kmart Corp. and Roundy’s.

The property was sold to a private investor.

Agree Realty Corp. is engaged in the ownership, management and development of retail properties located across 14 states.

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