US Edition100-plus JCPenney stores to change hands in $947M deal
- On July 25, the entity managing JCPenney’s real estate assets announced an all-cash agreement to sell 119 stores to an Onyx Partners, Ltd. affiliate for $947 million, with the transaction expected to close by September 8, 2025.
- Following JCPenney’s 2020 bankruptcy and restructuring, Copper Property assumed ownership of approximately 160 retail stores and six distribution centers, after an extensive sales campaign managed by Newmark.
- The portfolio includes net-leased properties spread across 35 states, with 21 stores in Texas and 19 in California, while six Florida stores will be sold but Pensacola's lone store will not be included.
- On a July 28 conference call, JCPenney CFO Larry Finger stated that after accounting for closing expenses, an amount in the range of $928 million to $932 million will be paid out to creditors, and that the buyer has finalized its non-refundable due diligence deposits.
- This sale marks a major step in JCPenney's continuing restructuring, maintaining all 119 stores as open and operational for now, but the future of these stores remains uncertain after the transfer.
82 Articles
82 Articles
Waldorf JCPenney Faces Uncertain Future
The JCPenney store at St. Charles Towne Center in Waldorf, Maryland, is one of 119 locations sold to an affiliate of Boston-based private equity firm Onyx Partners, Ltd., for $947 million, according to Copper Property CTL Pass Through Trust. Announced on July 25, 2025, the Waldorf JCPenney sale is part of a transaction set to close on September 8, leaving the store’s operational future unclear. The Waldorf JCPenney sale follows JCPenney’s ongoin…
El Paso, Texas.- The historic JCPenney chain of stores sold 119 of its commercial properties, including one located in El Paso, as part of a nearly $1 billion-valued operation. Despite the change of ownership, the company assured that all the stores involved will continue to operate unaltered. The affected El Paso branch is located in El Mercado Plaza, over Joe Battle Blvd., in the east of the city. It was one of the 21 properties in Texas inclu…
More than 100 JCPenny stores sold off through $1B post-bankruptcy deal
At least 119 JCPenney stores across the U.S. are set to change ownership in a major $947 million deal announced last week. The agreement comes five years after the retailer filed for Chapter 11 bankruptcy at the height of the COVID-19 pandemic. As part of its restructuring, the department store chain transferred ownership of 160 store properties and six distribution centers to a liquidating trust established on behalf of its secured lenders.Copp…
2 Tampa Bay JCPenney stores among more than 100 locations sold: What happens now?
(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 …
JCPenney store at Rockingham Park Mall part of 100-store deal
A Boston-based private equity firm recently announced that it will purchase more than 100 JCPenney stores across the country, leaving many loyal customers wondering about the status of the locations, which are scattered across 35 states. But the department store…
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