REAL ESTATE

St. Louis Center sold for $10.6 million

BY Al Urbanski

Springfield, Illinois-based Jared Commercial has acquired the Chippewa Center in St. Louis from an investment partnership controlled by Pace Properties. The purchase price was $10.6 million.

The 147,920-sq.-ft. center is located in the densely populated Shrewsbury neighborhood of St. Louis. Chief tenants are Shop ‘n Save, Value City Furniture, and Dollar Tree.

The deal was brokered for Jared Commercial by Mid-America Real Estate.


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POS/PAYMENTS

Walmart expands payment partnership

BY Deena M. Amato-McCoy

As the battle between Walmart Canada and Visa over interchange rates rages on, Walmart Stores is making more strategic moves with Chase.

Walmart will now process credit and debit payments on ChaseNet, the bank's closed-loop network, across its 5,000-plus Walmart and Sam’s Club locations in the U.S., and on the Sam’s Club e-commerce site. Chase already processes payments for Walmart’s e-commerce channel.

Through the partnership, Walmart will have guaranteed, fixed-rate pricing for Chase Visa credit and debit payments processed during the term of the contract. The retailer declined to share the contract’s timeframe.

“Engaging Chase with a direct processing relationship has been a priority for Walmart for some time,” said Mike Cook, Walmart’s senior VP and assistant treasurer. “Walmart is always looking for innovative ways to improve the payment experience, and save time and money for our customers, while also creating competition in the payments industry.”

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TECHNOLOGY

#UGGseason is here!

BY Deena M. Amato-McCoy

It's hard to find a brand more excited about the first day of fall than UGG.

Ready to kick off its favorite season in style, UGG is launching a custom, fall-themed Snapchat lens. The lens, which will be available until midnight tonight, is part of the company’s digital campaign, #UGGseason. UGG fans can log onto Twitter and post their favorite looks, memes and comments, including those created through Snapchat.

The digital campaign also features model and actress, Rosie Huntington-Whiteley, in a five-part digital video series that will run through the holiday season. This is the second UGG campaign featuring the Victoria’s Secret model.

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