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PGA Tour beats par for mobile payment

BY Dan Berthiaume

As an organizer of professional golf tournaments, Ponte Vedra Beach, Florida-based PGA Tour may not jump to mind as a retailer. But PGA Tour operates a full-service café at its headquarters and also occasionally offers pop-up cafes at tournament events.

When PGA Tour opened its headquarters café in summer 2015, it needed a mobile POS solution that would be intuitive for employees to use and have flexibility to support the company’s specific quick-service environment. This included having the ability to function as a traditional POS system in the headquarters café, while having infrastructure light enough to support mobile POS operations in pop-ups.

Having already used the Dollars On The Net Payment secure payment gateway from payment solution provider Shift4 Corp. to collect tournament registration dues, PGA Tour decided to leverage the Shift4 VT4 mobile POS solution.

“We approached Shift4 to explore the possibility of having them enhance their solution to accept member account numbers as well as credit cards,” said Steve Evans, senior VP of IS at PGA Tour. “We then gave Shift4 the data interface format our financial system expects and we were in business.”

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REAL ESTATE

Off-price fashion retailer to join St. Georges Crossing

BY Melonie Messina

Woodbridge, N.J. — Levin Management announced that T.J.Maxx has joined St. Georges Crossing in Woodbridge, New Jersey. The 23,000 sq. ft. free-standing T.J.Maxx store will anchor the fully leased, 340,000 sq. ft. shopping center.

St. Georges Crossing is located at the intersection of Routes 1 & 9 and 35. The center includes a mix of retail, restaurant and service tenants: ShopRite, P.C. Richard & Son, PetSmart and Pier 1 Imports, Golf Galaxy, AutoZone, Bertucci’s and Wine Country.

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REAL ESTATE

The Taylor McMinn team of Marcus & Millichap sells $4.2 million

BY Melonie Messina

Dallas, Ga. — Marcus & Millichap announced the sale of a 17,930-sq. ft. CVS Strip Center in Dallas, Georgia, for $4.2 million. The property is 70% anchored by CVS Health with a 15-year corporate-guaranteed double-net lease.

“Well located strip centers with National Corporate Tenants are garnering growing investor interest as buyers seek increased yields from the single tenant net leased space. As a result, cap rates for similar assets are continuing to compress,” said Zach Taylor, VP of Investments for Marcus & Millichap’s.

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