Mass Merchant

Pritzker Group Venture Capital, formerly New World Ventures, has invested $45 million in Chicago-based SMS Assist, a leading mobile and cloud-based facilities maintenance technology company.  
 

Dubuque, Iowa — Mid-America Real Estate Corp.’s Investment Sales team recently brokered the sale of a large portion of the 136,398-sq.-ft. Asbury Plaza in Dubuque, Iowa. The Cafaro organization made the acquisition for $12 million.

The community shopping center is about two miles from Cafaro’s 700,000-sq.-ft. Kennedy Mall.

The community shopping center features national anchor retailers including Michaels, Bed Bath & Beyond and Petco. Shadow anchors include Hy-Vee Grocery Store, Kohl’s and AMC Theater.

New York – Saks Inc. has settled lawsuits from investors related to its proposed buyout by Hudson’s Bay Company (HBC). According to Bloomberg, Saks has reached an agreement that reduces the termination fee it would pay HBC in the event the purchase does not happen and reduces the time Saks has to seek alternative offers

Reston, Va. – The start of the annual school year drove U.S. consumer traffic at retail sites in September. According to comScore MediaMetrix data, retail computer software sites were the third-most-visited website category in September 2013 with about 64.3 million unique U.S. visitors, up 12% from 57.3 million the prior month.

Despite many forecasts of a gloomy holiday season for retailers, Deloitte is predicting an increase in consumer spending.

Bentonville, Ark. – Wal-Mart Stores, Inc. has reportedly named two new managers for its China business. According to Bloomberg, an internal corporate memo indicates Wal-Mart is naming Adrian Blake as senior VP of business development in China and Rob Bray as senior VP of real estate in China.

New York -- Martha Stewart Living Omnimedia and J.C. Penney Co. on Monday announced a revised commercial agreement covering their licensing and design partnership. The new agreement scales back Penney’s partnership with Martha Stewart Living.
    
It was not clear how, if at all, the revised agreement could affect the companies’ ongoing lawsuit with Macy’s.
    

Minneapolis – Target Corp. is enlisting Jonna Mendez, a former CIA officer and mom who will serve as a “Kids’ Gift Detective.” Inspired by her years of CIA experience, Mendez will offer online tips and techniques via a video series at ABullseyeView.com where she works with popular mom bloggers.

In addition, Target will offer a dedicated kids’ gifts page on its website and will launch a digital gift catalog in early November.