Midwest

NEW YORK CITY — American Realty Capital Trust (ARCT) has acquired 10 retail properties in five states, including Minnesota and Missouri, for $16.3 million. Family Dollar is leasing three of the properties, while seven are occupied by Ruby Tuesday. The buildings total 60,000 square feet. The acquisition is in line with New York City-based ARCT's strategy of developing a diversified portfolio with a 60 percent concentration in the retail sector. In addition to the Midwest, some of the properties are located in Georgia, Texas and Florida.

TRAVERSE CITY, MICH. — Aldi Foods has purchased a 22,331-square-foot retail building in Traverse City. The former Circuit City property is located across from Grand Traverse Mall. Rick Vida of RSV&P Inc. represented the seller, Inland Real Estate of Chicago. Michael Lippet of Lormax Stern represented Aldi. The discount supermarket chain is expected to open at the location in December or January.

PLYMOUTH AND SHAWANO, WIS. — Agree Realty Corp. has sold the Plymouth Commons shopping center and the Shawano Plaza shopping center in Wisconsin for $7.4 million. The 161,000-square-foot Plymouth Commons in Plymouth is anchored by an 86,479-square-foot Kmart and a 39,352-square-foot Pick'n Save. The 193,000-square-foot Shawano Plaza in Shawano is anchored by a 86,479-square-foot Kmart and a 47,047-square-foot Pick'n Save. Agree plans to redeploy the capital into acquiring and developing single-tenant properties, net leased to leading retailers.

BLOOMINGTON AND ROSEVILLE, MINN. — Cost Plus World Market is returning to the Minneapolis-St. Paul market this September, after leaving the Twin Cities market in 2009. The company is opening two stores in the area Sept. 13. One will be located at 4250 West 78th St. in Bloomington and another will open at the Rosedale Marketplace at 2401 Fairview Ave. North in Roseville. Cost Plus World Market is a specialty retailer known for furniture, home decor and gifts from across the globe.