(Nexstar) – A significant change is on the horizon for JCPenney, as Onyx Partners, Ltd., based in Boston, has reached a deal to sell 119 of its properties.
Copper Property CTL Pass will acquire these locations in a deal valued at $947 million, with an all-cash transaction expected to finalize by September 8th. The proceeds, estimated to be between $928 million and $932 million, are slated to benefit JCPenney’s creditors, according to principal Larry Finger, as stated this week.
While Onyx Partners, JCPenney, and Copper Property haven’t responded to inquiries from Nexstar, a spokesperson for JCPenney indicated to outlets that the impacted stores will continue to operate, highlighting that this change involves “a shift in the landlord.”
In total, 121 stores are involved, spread across 35 states, although a few had already been sold to Simon Property Group and Brookfield Asset Management.
Arkansas
- Little Rock: Shackleford Crossing-2600 S Shackleford Road
- Jonesboro: Mall in Turtle Creek-3000 E Highland Drive Suite 516
Arizona
- Glendale: Arrowhead Town Centre-7750 W Arrowhead Town Centre
- 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 Santanita-400 S Baldwin Avenue
- Antioch: Slatten Ranch Orchard-4951 Slatten Ranch Road
- Bakersfield: Valley Plaza-2501 Min Avenue
- Blair: Blair Mall-400 Blair Mall
- El Centro: Imperial Valley Mall-3351 S Dogwood
- Escondido: Westfield North County-290E Rancho Parkway
- Fairfield: Solano Town Centre-1330 Travis Boulevard
- Glendale: Glendale Galleria-1169 Glendale Galleria
- Huntington Park: Huntington Park CBD -6420 S Pacific Boulevard
- Montebello: Montebello Shop-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 Blvd
- Palm Desert: Westfield Palm Desert-72900 Highway 111
- Rancho Cucamonga: Victoria Gardens -12399 S Mainstreet
- Riverside: Tyler’s Galleria-3605 Tyler of Galleria
- Sacramento: Ardenfair Mall-1695 Ardenway
- Ventura: Pacific View Mall-377 S Mills Road
- West Covina: Plaza-1203 Plaza Drive in West Covina
Colorado
- Aurora: Aurora Town Center – 14200 e Alameda Avenue
- Colorado Springs: First & Main Town Center-3650 New Center Point
Connecticut
- Danbury: Danbury Fair-7 Bucks Avenue
- Farmington: West Farm Mall-300 West Farm Mall
- Manchester: Buckland Hills Shopping-344 v Buckland Hills Drive Suite 7000
Florida
- Brandon: Westfield Brandon-331 Brandon Town Center Mall
- Clearwater: Westfield Countryside-27001 US Expressway 19 n
- Panama City Beach: Pier Park-206 Bluefish Drive
- Pembroke Pines: Pembroke Lakes Mall-11401 Pines Boulevard
- Plantation: Westfield Broward-8000W Broward Blvd Suite 900
- Wellington: Mall in 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 Town Square-300N Milwaukee Street
Illinois
- Algonquin: Oak Ridge Court-800 S Randall Road
- Mokena: Mokena Marketplace -11325 W Lincoln Highway
- North Riverside: North Riverside Park Mall-7507 W Selmac Road
- Orland Park: Orlando Square-3 Orlando 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-11801W 95th Street
Kentucky
- Ashland: Ashland Town Centre-500 Winchester Avenue
- Florence: Florence Mall-6000 Florence Mall
Louisiana
- Baton Rouge: Bluebonnet Boulevard, Louisiana Mall-6201
Massachusetts
- Peabody: North Shore Mall – Route 114 & 128
Maryland
- Baltimore: White Marsh Mall-8200 Perry Hall Boulevard
- Waldorf: St. Charles Town Centre-11130 Mall Circle
Michigan
- Chesterfield Township: Waterside Marketplace-50753 Waterside Drive
- Grandville: Rivertown Intersection-3774 Rivertown Parkway SW
- Novi: Twelve Oaks Mall -27150 Novi Road
- Sterling Heights: Lakeside Mall -14300 Lakeside Circle
- Traverse City: Grand Traverse Small Mall-3300 S Airport Road W
- Troy: Auckland Mall-700W 14 Mile Road
Minnesota
- Roseville: Rosedale S/C -1700 W County Road B -2
Missouri
- Kansas City: Plaza at Shawl Creek-8100N Flint Rock Road
- St. Peters: Mid Rivers Mall-4 Mid Rivers Mall
Mississippi
- Southaven: Southaven Towne Center -6620 Town Center Loop Suite E
North Carolina
- Durham: Street in South Point – 6910 Fayetteville Road Suite 600
New Hampshire
- Salem: Mall in Rockingham Park-81 Rockingham Park Boulevard
New Jersey
- Freehold: Freehold Raceway Mall-3710 Highway 9
- Jersey City: Newport Center-10 Mall Drive
- 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: Meadwood Mall-5200 Meadwood Mall Circle
New York
- Bronx: Bay Plaza Mall-100 Baychester Avenue
- Brooklyn: Gateway Shopping Centre I&II -360 Gateway Drive
- Staten Island: Staten Island Mall-140 Marsh Avenue
Ohio
- Colerain Township: Stone Creek Town Center-3675 Stone Creek Blvd
- Columbus: Polaris Fashion Place-1450 Polaris Parkway
- Dublin: Tuttle Crossing Mall-5083 Tuttle Crossing Boulevard
- Maumee: Fallen Timbers Shop-3100 Main Street Suite 1000
- Strongsville: South Park Centre-17177 Royalton Road
Oklahoma
- Moore: Shop in Moore – 2400 S Service Road
- Oklahoma City: Penn Square Mall-1901 NW Expressway Suite1200
- Owasso: Center of Owasso-9056N 121st East Avenue
Oregon
- Portland (Happy Valley): Cracker Barrel Town Center-12300 SE 82nd Avenue
Pennsylvania
- Greensburg: Westmoreland Mall-5256 Route 30
- Harrisburg: High Point Commons-4680 High Point Boulevard
- Pittsburgh: Robinson T/C -2000 Robinson Town Center Mall
Tennessee
- Memphis: Wolfchase Galleria -2756 N Germantown Parkway
- Murfreesboro: Stones River Mall-1720 Old Fort Parkway
Texas
- Arlington: Parks in Arlington-3851 S Cooper Street
- Austin: South Park Meadows S/C -9500 S IH -35 Suite H
- Brownsville: Sunrise Mall-2370 N Expressway Suite 2000
- Cedar Park: Lake Line Mall-11200 Lake Line Mall Drive
- College Station: Post Oak Mall-1500 Harvey Road
- Conroe: Teas Crossing -3165 Interstate 45
- 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: Stone Park Shop-5858E Sam Houston Parkway N
- Humble: Deerbrook Mall -20131 Highway 59N Suite 3000
- Killeen: Killeen Mall-2100 S W Young Drive Suite 2000
- Laredo: Mall del Norte-5300 Sandario
- Midland: Midland Park Mall-4511 N Midkiff Road
- New Braunfels: New Braunfels T/C -215 Creekside Way
- Pasadena: Fairmont Center-5120 Fairmont Parkway
- Sherman: Sherman Town Center-610 Graham Drive
- Sugar Land: First Colony Mall-16529 Southwest Freeway
- Waxahachie: Waxahachie Town Centre Crossing-1441 N Highway 77
Virginia
- Colonial Heights: South Park Mall-6 South Park 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 South Centre-1249 South Centre Mall
Wisconsin
- Appleton: Fox River Mall -4301 W Wisconsin Ave
It’s worth mentioning that JCPenney has downsized quite a bit in recent years. After filing for bankruptcy in 2020, around a third of its stores were closed. The retailer, established 123 years ago, also reduced its number of locations significantly back in 2017, shutting down 138 stores.
In a bid to rejuvenate its presence, JCPenney announced a substantial investment of over $1 billion in 2023 aimed at enhancing the shopping experience. Planned renovations include streamlining checkout areas, improving lighting, repainting stores, and upgrading the online shopping platform.
Nonetheless, several locations have seen closures since then, including more than a few that shut down just prior to this year’s anniversary.
Currently, JCPenney operates over 640 stores across the U.S. and Puerto Rico.
