JCPenney to sell 119 stores in nearly $1 Billion deal: What it means for shoppers
JCPenney stores
In one of the largest retail real estate transactions of 2025, JCPenney has announced the sale of 119 of its store locations in a deal valued at nearly $1 billion. The department store giant, which has been restructuring since its 2020 bankruptcy, is shifting its strategy by monetizing owned properties rather than outright closing stores, at least for now.
Major Real Estate Overhaul, Not a Mass Shutdown
The sale, reported by USA Today and confirmed by company sources, involves 119 stores across 31 states, covering a mix of full-line department stores, land parcels, and anchor spaces in shopping malls. While the scale of the transaction is massive, JCPenney maintains that it is not exiting the markets where these stores are located.
The real estate is being transitioned through B. Riley Real Estate, a commercial property sales firm. This allows JCPenney to reduce long-term liabilities while exploring options for subleasing, redevelopment, or relocation.
Shoppers Unlikely to See Immediate Changes
JCPenney reassured customers that the deal won’t immediately impact store operations. All 119 stores involved will continue to operate under the JCPenney banner for now. Depending on new ownership decisions, some stores may eventually close, be downsized, or rebranded.
Importantly, no layoffs or service disruptions are planned at this stage.
Which Locations Are Being Sold?
Though a full list of stores hasn’t been published, several confirmed cities include:
- San Antonio, TX
- Baton Rouge, LA
- Independence, MO
- Chandler, AZ
- Greensboro, NC
- Columbia, SC
- Daytona Beach, FL
Each location differs in terms of lease or ownership status, but most are located in high-traffic retail zones and serve as anchor stores in regional malls.
Why JCPenney Is Selling Real Estate Now
Since being acquired by Simon Property Group and Brookfield Asset Management, JCPenney has leaned into financial restructuring. By selling owned real estate, the retailer frees up capital for key priorities such as e-commerce, digital infrastructure, and customer experience.
“This is a logical step for legacy retailers sitting on underutilized real estate,” said retail analyst Angela Morrison. “It allows them to free up capital and adjust to shifting retail trends.”
A Legacy Brand Reinventing Itself
While the headlines may seem alarming, experts believe this signals transformation, not decline. JCPenney is trying to reinvent its business model for long-term survival in a market increasingly dominated by online players and fast fashion.
“This isn’t the end of JCPenney,” Morrison added. “It’s a pivot, one that many traditional brands must make to remain competitive.”
READ ALSO
Tsunami Warning in Hawaii: What residents should do
Angel Reese’s viral $1,400 meme vs her real salary: What you should know
What Shoppers Should Expect Next
Customers should stay alert for:
- Signage indicating store property changes
- Announcements about lease transitions or redevelopment
- Possible store relocations or downsizing
For now, JCPenney remains open and operational at all 119 locations involved in the sale.
JCPenney Bets Big on Real Estate Strategy
With a billion-dollar sale of 119 stores, JCPenney is placing a strategic bet on its future. Though it’s too early to predict the long-term outcomes, this move could help the brand reduce overhead and reposition itself for modern retail challenges.
As the landscape shifts, JCPenney’s legacy, and its loyal customers, may be looking at a very different, but potentially more resilient, future.