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ARC Retail completes Tiffany Springs purchase
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.
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PetSmart increases quarterly dividend
PetSmart's board of directors has approved a motion to increase the company's quarterly dividend by 18% from $0.16 to $0.19 per share beginning in the third quarter.
The dividend of $0.195 will be paid Nov. 15 to stockholders of record at the close of business Nov. 1. This is equivalent to an annual rate of $0.78 per share.