Over 100 JCPenney stores sold: What happens now?

The Hill

6 days ago

(NEXSTAR) — More than 100 JCPenney stores will soon have a new owner.
Boston-based Onyx Partners, Ltd. has entered into a purchase and sale agreement with Copper Property CTL Pass Through Trust to buy 119 JCPenney properties, according to a press release. The $947 million all-cash deal is expected to close before September 8.
Somewhere between $928 million and $932 million will be distributed to JCPenney's creditors, principal financial officer Larry Finger said this week, USA Today reported.
Onyx Partners, JCPenney, and Copper Property did not immediately respond to Nexstar's request for additional information. However, in a statement to USA Today and other outlets, a spokesperson for JCPenney said all impacted stores will remain operational as the deal 'represents a change in landlord.'
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Overall, 121 stores across 35 states were included in the portfolio, though some were previously sold to Simon Property Group and Brookfield Asset Management. Those stores are listed below:
Arkansas
Little Rock: Shackleford Crossing – 2600 S Shackleford Road
Jonesboro: The Mall at Turtle Creek – 3000 E Highland Drive Suite 516
Arizona
Glendale: Arrowhead Towne Center – 7750 W Arrowhead Towne Center
Goodyear: Palm Valley Cornerstone – 13333 W McDowell Road
Mesa: Superstition Springs Mall – 6525 E Southern Avenue
Yuma: Yuma Palms Regional Center – 1375 S Yuma Palms Parkway
California
Arcadia: Westfield Santaanita – 400 S Baldwin Avenue
Antioch: The Orchard at Slatten Ranch – 4951 Slatten Ranch Road
Bakersfield: Valley Plaza – 2501 Ming Avenue
Brea: Brea Mall – 400 Brea Mall
El Centro: Imperial Valley Mall – 3351 S Dogwood
Escondido: Westfield North County – 290 E Via Rancho Parkway
Fairfield: Solano Town Center – 1330 Travis Boulevard
Glendale: Glendale Galleria – 1169 Glendale Galleria
Huntington Park: Huntington Park CBD – 6420 S Pacific Boulevard
Montebello: The Shops at Montebello – 1600 Town Center Drive
National City: Westfield Plaza Bonita – 3040 Plaza Bonita Road
Northridge: Northridge Fashion Center – 9301 Tampa Avenue
Palmdale: Antelope Valley Mall – 1131 W Rancho Vista Boulevard
Palm Desert: Westfield Palm Desert – 72900 Highway 111
Rancho Cucamonga: Victoria Gardens – 12399 S Mainstreet
Riverside: Galleria at Tyler – 3605 Galleria At Tyler
Sacramento: Arden Fair Mall – 1695 Arden Way
Ventura: Pacific View Mall – 377 S Mills Road
West Covina: Plaza at West Covina – 1203 Plaza Drive
Colorado
Aurora: Town Center at Aurora – 14200 E Alameda Avenue
Colorado Springs: First & Main Town Center – 3650 New Center Point
Connecticut
Danbury: Danbury Fair – 7 Backus Avenue
Farmington: Westfarms Mall – 300 Westfarms Mall
Manchester: The Shoppes at Buckland Hills – 344 V Buckland Hills Drive Suite 7000
Florida
Brandon: Westfield Brandon – 331 Brandon Town Center Mall
Clearwater: Westfield Countryside – 27001 US Highway 19 N
Panama City Beach: Pier Park – 206 Bluefish Drive
Pembroke Pines: Pembroke Lakes Mall – 11401 Pines Boulevard
Plantation: Westfield Broward – 8000 W Broward Blvd Suite 900
Wellington: The Mall at Wellington Green – 10308 W Forest Hill Boulevard
Georgia
McDonough: South Point S/C – 1380 Highway 20 W
Iowa
Coralville: Coral Ridge Mall – 1471 Coral Ridge Avenue
Idaho
Boise: Boise Towne Square – 300 N Milwaukee Street
Illinois
Algonquin: Oakridge Court – 800 S Randall Road
Mokena: Mokena Marketplace – 11325 W Lincoln Highway
North Riverside: North Riverside Park Mall – 7507 W Cermak Road
Orland Park: Orland Square – 3 Orland Square Drive
Vernon Hills: Hawthorn S/C – Rt 60 & Highway 21
Indiana
Noblesville: Hamilton Town Center – 13900 Hoard Drive
Kansas
Overland Park: Oak Park Mall – 11801 W 95Th Street
Kentucky
Ashland: Ashland Town Center – 500 Winchester Avenue
Florence: Florence Mall – 6000 Florence Mall
Louisiana
Baton Rouge: Mall of Louisiana – 6201 Bluebonnet Boulevard
Massachusetts
Peabody: Northshore Mall – Route 114 & 128
Maryland
Baltimore: White Marsh Mall – 8200 Perry Hall Boulevard
Waldorf: St. Charles Towne Center – 11130 Mall Circle
Michigan
Chesterfield Township: Waterside Marketplace – 50753 Waterside Drive
Grandville: Rivertown Crossings – 3774 Rivertown Parkway SW
Novi: Twelve Oaks Mall – 27150 Novi Road
Suiterling Hts: Lakeside Mall – 14300 Lakeside Circle
Traverse City: Grand Traverse Mall – 3300 S Airport Road W
Troy: Oakland Mall – 700 W 14 Mile Road
Minnesota
Roseville: Rosedale S/C – 1700 W County Road B-2
Missouri
Kansas City: The Plaza at Shoal Creek – 8100 N Flintlock Road
St. Peters: Mid Rivers Mall – 4 Mid Rivers Mall
Mississippi
Southaven: Southaven Towne Center – 6620 Towne Center Loop Suite E
North Carolina
Durham: The Streets at Southpoint – 6910 Fayetteville Road Suite 600
New Hampshire
Salem: The Mall at Rockingham Park – 81 Rockingham Park Boulevard
New Jersey
Freehold: Freehold Raceway Mall – 3710 Highway 9
Jersey City: Newport Centre – 10 Mall Drive W
Rockaway: Rockaway Townsquare – 305 Mount Hope Avenue
Woodbridge: Woodbridge Center – 428 Woodbridge Center Drive
New Mexico
Albuquerque: Coronado Center – 6600 Menaul Blvd NE Suite 600
Albuquerque: Cottonwood Mall – 10000 Coors Bypass NW
Nevada
Henderson: Galleria at Sunset – 1312 W Sunset Road
Las Vegas: Meadows Mall – 4400 Meadows Lane
Reno: Meadowood Mall – 5200 Meadowood Mall Circle
New York
Bronx: The Mall at Bay Plaza – 100 Baychester Avenue
Brooklyn: Gateway Shopping Center I & II – 360 Gateway Drive
Staten Island: Staten Island Mall – 140 Marsh Avenue
Ohio
Colerain Township: Stone Creek Towne Center – 3675 Stone Creek Boulevard
Columbus: Polaris Fashion Place – 1450 Polaris Parkway
Dublin: The Mall at Tuttle Crossing – 5083 Tuttle Crossing Boulevard
Maumee: The Shops at Fallen Timbers – 3100 Main Street Suite 1000
Strongsville: SouthPark Center – 17177 Royalton Road
Oklahoma
Moore: Shops at Moore – 2400 S Service Road
Oklahoma City: Penn Square Mall – 1901 NW Expressway Suite 1200
Owasso: Center at Owasso – 9056 N 121st East Avenue
Oregon
Portland (Happy Valley): Clackamas Town Center – 12300 SE 82nd Avenue
Pennsylvania
Greensburg: Westmoreland Mall – 5256 Route 30
Harrisburg: High Pointe Commons – 4680 High Pointe Boulevard
Pittsburgh: The Mall at Robinson T/C – 2000 Robinson Town Center
Tennessee
Memphis: Wolfchase Galleria – 2756 N Germantown Parkway
Murfreesboro: Stones River Mall – 1720 Old Fort Parkway
Texas
Arlington: The Parks at Arlington – 3851 S Cooper Street
Austin: Southpark Meadows S/C – 9500 S Ih-35 Suite H
Brownsville: Sunrise Mall – 2370 N Expressway Suite 2000
Cedar Park: Lakeline Mall – 11200 Lakeline Mall Drive
College Station: Post Oak Mall – 1500 Harvey Road
Conroe: Teas Crossing – 3165 Interstate 45 N
Denton: Golden Triangle Mall – 2201 S Interstate 35 E Suite D
El Paso: El Mercado Plaza – 1950 Joe Battle Boulevard
Fort Worth: Alliance Town Center – 3001 Texas Sage Trail
Friendswood: Baybrook Mall – 100 Baybrook Mall
Harlingen: Valle Vista Mall – 2006 S Expressway 83
Houston: The Shops at Stone Park – 5858 E Sam Houston Parkway N
Humble: Deerbrook Mall – 20131 Highway 59N Suite 3000
Killeen: Killeen Mall – 2100 S W S Young Drive Suite 2000
Laredo: Mall Del Norte – 5300 San Dario
Midland: Midland Park Mall – 4511 N Midkiff Road
New Braunfels: New Braunfels T/C at Creekside – 215 Creekside Way
Pasadena: Fairmont Center – 5120 Fairmont Parkway
Sherman: Sherman Town Center – 610 Graham Drive
Sugarland: First Colony Mall – 16529 Southwest Freeway
Waxahachie: Waxahachie Towne Center Crossing – 1441 N Highway 77
Virginia
Colonial Heights: Southpark Mall – 6 Southpark Mall
Hampton: Peninsula Town Center – 2071 Coliseum Drive
Washington
Bellingham: Bellis Fair – 10 Bellis Fair Parkway
Kennewick: Columbia Center – 1321 N Columbia Center Blvd #100
Tukwila: Westfield Southcenter – 1249 Southcenter Mall
Wisconsin
Appleton: Fox River Mall – 4301 W Wisconsin Ave
JCPenney closed about one-third of its stores in 2020 before being bought out of bankruptcy by mall owners Simon Property Group and Brookfield Asset Management in December of that year. The 123-year-old retailer previously trimmed its footprint with 138 closures in 2017, according to the Associated Press.
The retailer did its best to bounce back, announcing in 2023 that it would spend more than $1 billion by the end of this year to revive stores, the Associated Press reported. Planned improvements included moving checkouts to a single area, brighter lighting, fresh paint in stores, and an upgraded online shopping experience.
Nonetheless, several JCPenney stores have closed since. That included more than half a dozen stores that shuttered before Memorial Day this year.