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Yahoo
18 hours ago
- Business
- Yahoo
119 JCPenney stores sold, including these 4 in Arizona. Here's what to know
More than 100 JCPenney stores, including four in Arizona, will be sold to a Boston private equity firm for $947 million. The all-cash sale of 119 JCPenney properties to an affiliate of Onyx Partners, Ltd. was announced on July 25. The companies expect a Sept. 8 closing of the deal for the net-lease stores, which pay rent and operating expenses. Property management company Newmark and Hilco Real Estate had been seeking buyers for these JCPenney locations for Copper Property, a trust formed by JCPenney's lenders as part of the retailer's reorganization after its 2020 bankruptcy filing. Following JCPenney's bankruptcy, Copper Property took control of about 160 JCPenney locations and six distribution centers. Simon Property Group and Brookfield Asset Management Inc. took over JCPenney operations and the remaining locations. The department store chain, which currently has about 650 stores, was one of the largest retailers to file for Chapter 11 bankruptcy protection. The money from the transaction will go to JCPenney creditors. After closing costs, between $928 million and $932 million will be distributed, principal financial officer Larry Finger said on July 28 during a conference call discussing the transaction. Which JCPenney stores in Arizona were sold? These Arizona stores were set to be sold by Sept. 8: Glendale: Arrowhead Towne Center location, 7750 W. Arrowhead Towne Center Goodyear: Palm Valley Cornerstone location, 13333 W. McDowell Road Mesa: Superstition Springs Mall location, 6525 E. Southern Ave . Yuma: Yuma Palms Regional Center location, 1375 S. Yuma Palms Parkway Will the JCPenney stores close? All 119 stores that were sold are currently operational. The buyer, Onyx Partners, did not respond to a request for comment from USA TODAY. JCPenney closed more than 200 U.S. locations when the retailer filed for bankruptcy amid the COVID-19 pandemic. More recently, seven store closings announced in February 2025 became official in May 2025. No Arizona locations were shuttered. JCPenney stores in Arizona There are 17 JCPenney stores in Arizona, including the four stores that were sold. The other stores are located at: Ahwatukee Foothills: 5050 E. Ray Road Casa Grande: 1041 N. Promenade Parkway Chandler: 2180 S. Gilbert Road Douglas: 90 W Fifth St. Flagstaff: 4600 N. US 89 Lake Havasu City: 5651 State Route 95 N. Nogales: 220 W. Mariposa Road Phoenix: 4510 E. Cactus Road Prescott: 3200 Gateway Blvd. Show Low: 4481 S. White Mountain Road Tempe: 1900 E Rio Salado Parkway Tucson: 4530 N. Oracle Road; 5265 S. Calle Santa Cruz This article originally appeared on Arizona Republic: 119 JCPenney stores sold, including these 4 in Arizona. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
a day ago
- Business
- Yahoo
119 JCPenney stores sold in nearly $1 billion deal. See list of locations.
About five years after JCPenney filed for bankruptcy, a Boston private equity firm will pay $947 million for 119 JCPenney stores. The all-cash sale of 119 JCPenney properties to an affiliate of Onyx Partners, Ltd. was announced by Copper Property CTL Pass Through Trust on July 25. The companies expect a Sept. 8 closing of the deal for the net-lease stores, which pay rent and operating expenses. Property management company Newmark and Hilco Real Estate had been seeking buyers for these JCPenney locations for Copper Property, a trust formed by JCPenney's lenders as part of the retailer's reorganization after its 2020 bankruptcy filing. "The Buyer has now completed its due diligence, and its deposit under the Agreement is non-refundable," Copper Property Trust said in a news release on July 25. Home Depot: The famous giant Skelly goes high tech in retailer's 2025 Halloween line Following JCPenney's bankruptcy, Copper Property took control of about 160 JCPenney locations and six distribution centers. Simon Property Group and Brookfield Asset Management Inc. took over JCPenney operations and the remaining locations. The department store chain, which currently has about 650 stores, was one of the largest retailers to file for Chapter 11 bankruptcy protection. The money from the transaction will go to JCPenney creditors. After closing costs, between $928 million and $932 million will be distributed, principal financial officer Larry Finger said on July 28 during a conference call discussing the transaction. JCPenney stores sold: Will all remain open? All 119 stores that were sold are currently operational. The buyer, Onyx Partners, did not respond to a request for comment from USA closed more than 200 U.S. locations when the retailer filed for bankruptcy amid the COVID-19 pandemic. More recently, seven store closings announced in February 2025 became official in May 2025. Which JCPenney stores are being sold? See map, list Newmark had told prospective buyers its JCPenney Retail Portfolio comprised 121 properties totaling 16.05 million square feet of retail space across 35 states, including 21 in Texas and 19 in California. Two properties – one in Florida and one in Pennsylvania, according to a Securities and Exchange Commission filing – were sold to the Simon and Brookfield group for $21 million earlier this year. Mike Snider is a national trending news reporter for USA TODAY. You can follow him on Threads, Bluesky, X and email him at mikegsnider & @ & @mikesnider & msnider@ What's everyone talking about? Sign up for our trending newsletter to get the latest news of the day This article originally appeared on USA TODAY: JCPenney portfolio of 119 stores sells for $947 million: See locations Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
USA Today
2 days ago
- Business
- USA Today
119 JCPenney stores sold in nearly $1 billion deal. See list of locations.
About five years after JCPenney filed for bankruptcy, a Boston private equity firm will pay $947 million for 119 JCPenney stores. The all-cash sale of 119 JCPenney properties to an affiliate of Onyx Partners, Ltd. was announced by Copper Property CTL Pass Through Trust on July 25. The companies expect a Sept. 8 closing of the deal for the net-lease stores, which pay rent and operating expenses. Property management company Newmark and Hilco Real Estate had been seeking buyers for these JCPenney locations for Copper Property, a trust formed by JCPenney's lenders as part of the retailer's reorganization after its 2020 bankruptcy filing. "The Buyer has now completed its due diligence, and its deposit under the Agreement is non-refundable," Copper Property Trust said in a news release on July 25. Home Depot: The famous giant Skelly goes high tech in retailer's 2025 Halloween line Following JCPenney's bankruptcy, Copper Property took control of about 160 JCPenney locations and six distribution centers. Simon Property Group and Brookfield Asset Management Inc. took over JCPenney operations and the remaining locations. The department store chain, which currently has about 650 stores, was one of the largest retailers to file for Chapter 11 bankruptcy protection. The money from the transaction will go to JCPenney creditors. After closing costs, between $928 million and $932 million will be distributed, principal financial officer Larry Finger said on July 28 during a conference call discussing the transaction. JCPenney stores sold: Will all remain open? All 119 stores that were sold are currently operational. The buyer, Onyx Partners, did not respond to a request for comment from USA closed more than 200 U.S. locations when the retailer filed for bankruptcy amid the COVID-19 pandemic. More recently, seven store closings announced in February 2025 became official in May 2025. Which JCPenney stores are being sold? See map, list Newmark had told prospective buyers its JCPenney Retail Portfolio comprised 121 properties totaling 16.05 million square feet of retail space across 35 states, including 21 in Texas and 19 in California. Two properties – one in Florida and one in Pennsylvania, according to a Securities and Exchange Commission filing – were sold to the Simon and Brookfield group for $21 million earlier this year. Mike Snider is a national trending news reporter for USA TODAY. You can follow him on Threads, Bluesky, X and email him at mikegsnider & @ & @mikesnider & msnider@ What's everyone talking about? Sign up for our trending newsletter to get the latest news of the day
