Real Estate

New York -- American Realty Capital – Retail Centers of America, Inc. ("ARC Retail") closed its acquisition of the Tiffany Springs MarketCenter, located in Kansas City, Mo., on Sept. 26, for a contract price of $53.5 million, exclusive of closing costs. The purchase of the Tiffany Springs MarketCenter represents ARC Retail's third acquisition of a retail power center with multiple credit tenants.

Ending years of speculation, the Container Store late Monday filed a registration statement with the Securities and Exchange Commission for an initial public stock offering.

The operator of 62 stores in 22 states with annual sales of $702 million contends the U.S. can support as many as 300 locations with international growth also a possibility. The company expects to open six stores during the current fiscal year and seven stores next year. The company’s stores average around 19,000-sq.-ft. and carry approximately 10,500 items grouped in 16 departments.

Wichita, Kan. – Rent-A-Center has opened a new store in Kihei, Hawaii. The new Rent-A-Center is located at 1215 S. Kihei Rd., Ste. 3.

“We’re very excited to be here in Kihei,” said store manager Robyn Idemoto. “We’ve gotten a great response from the community. Everyone’s like family out here, and I really like that. I feel that we can bring a lot of positivity to the community.”

Hollywood, Calif. – On Sept. 26, 2013, the board of directors of Frederick’s of Hollywood Group Inc. received a non-binding proposal letter from a consortium of HGI Funding LLC, TTG Apparel, LLC, Tokarz Investments, LLC, Fursa Alternative Strategies LLC, and Arsenal Group LLC to acquire all of the outstanding shares of its common stock.

CHESTER, Pa. -- Fare & Square, the nation's first nonprofit grocery store of its kind, opened in Chester, Pa. It is the first full service grocery store to open in Chester, a “food desert” area, since 2001.

Fare & Square will sell a full array of food with a focus on fresh products in a 16,000 sq. ft. store with six departments including produce, deli, fresh meat, seafood, dairy, frozen and dry goods featuring brand name and private labels.   

Hamilton Township, N.J. — A 13,640-sq.-ft. Petco has opened at Hamilton Plaza in Hamilton Township, N.J., according to Levin Management, which manages and leases the 175,515-sq.-ft. property. Ripco served as the tenant’s broker in the transaction.

San Jose, Calif. – Chuck E. Cheese’s has signed a long-term lease renewal and expansion of roughly 2,126 sq. ft. for a total of about 16,158 sq. ft. at Kendall Village Center in Kendall, Fla. To accommodate this expansion, Berkowitz Realty Group had to relocate accessory retailer Claire’s within the center.

New York -- Tesco Plc’s Fresh & Easy chain filed for Chapter 11 bankruptcy as part of a plan to sell most of the U.S. chain’s 167 stores to a private equity firm led by billionaire Ron Burkle.

Fresh & Easy cited debt between $500 million and $1 billion in a court filing on Monday in U.S. Bankruptcy Court in Wilmington, Del. According to the documents, a unit of Tesco will end up with a 22.5% stake in the Yucaipa affiliate that acquires the supermarket chain.