Finance & Capital Management

Emeryville, Calif. -- Ikea officially plugged-in the solar energy system installed at its East Bay store in Emeryville, Calif. The 68,000-sq.-ft. photovoltaic array consists of a 538-kW system, built with approximately 2,394 panels.

The installation will produce approximately 760,300 kWh of clean electricity annually, the equivalent of reducing 578 tons of carbon dioxide (CO2), eliminating the emissions of 103 cars or powering 64 homes yearly.

NEW YORK — Walmart took the next step in its goal to help build women's economic empowerment by announcing the launch of a dedicated page on Walmart.com that will feature an assortment of products created by women in nearly two dozen countries, including women who work in cooperatives and own small businesses. The site, which the company expects to be available in spring 2012, will feature such products as jewelry from Guatemala, Thailand and Ethiopia; coffee from Central and South America; and dresses from Kenya.

New York City -- Shopping-center sales in November and December are expected to increase 2.2% relative to the same period a year ago, according to the International Council of Shopping Centers. In 2010, the holiday season posted a 5% gain following two back-to-back declines during the 2007-09 recession.

The organization has forecast that U.S. holiday sales in 2011 will post a moderate 3% gain, down from 2.1% last year.
 

Chicago -- Commercial real estate firm Lee & Associates said it has added two senior VPs to its Chicago office.

Joseph Herron and Jason Sorce have both joined Lee & Associates Chicago as part of the firm’s expansion in the Midwest.

The firm also recently added Robyn Smart as a senior advisor in its Indianapolis office.

Herron joins Lee & Associates from Mid-America Real Estate Corp., where he spent 10 years as a retail broker. Sorce was previously with SRS Real Estate Partners and NAI Hiffman.

Dallas -- Alliance Data Systems Corp., a provider of loyalty and marketing solutions derived from transaction-rich data, announced it has signed a new long-term agreement to provide private label and co-branded credit-card services for Marathon Petroleum Corp., Findlay, Ohio.

New York City -- BJ’s Wholesale Club reduced the size and increased the rate on $2.18 billion of loans backing its buyout by Leonard Green & Partners LLP and CVC Capital Partners, Bloomberg reported.

The retailer cut a first-lien piece by $50 million to $1.075 billion, the report said, citing a source who declined to be identified.
 

CHICAGO — Walgreens is looking to roll out solar installations at its Ohio-area stores, thanks to a new partnership with a Chicago-based solar developer.

The retailer said that it selected SoCore Energy to provide 90 solar installations for the Ohio-based stores. The partnership began earlier this month with the construction of 20 solar installations at Walgreens stores in Cincinnati. Walgreens and SoCore Energy said that the first 53 solar installations is slated to be completed by Nov. 11.

Sacramento, Calif. -- Walmart is taking its commitment to renewable energy to new levels in California. The chain announced plans to install solar panels on up to 60 additional stores in the Golden State. The initiative, done in partnership with SolarCity, expands the company’s solar portfolio to more than 75% of its locations in California.