JCPenney At Mall In Columbia Sold As Part of Package Deal

HOWARD COUNTY, MD — The JCPenney location at the Mall in Columbia has been sold along with the location at Westfield Annapolis. The sale happened by Hilco JCP LLC, an affiliate of Hilco Real Estate LLC and manager of Copper Property CTL Pass Through Trust. The cost of the sale was $65.2 million.

According to The Daily Record, the five JCPenney locations involved in the sale were located in Columbia and Annapolis in Maryland; Newark, Delaware; and Fairfax and Springfield, Virginia.

The trust has now sold its six distributions centers and 23 of its retail properties, generating a total of $868 million in sales proceeds.

JCPenney filed for Chapter 11 in May 2020, pinpointing financial hardships spurred by the COVID-19 outbreak. Later that year, Simon and Brookfield partnered to purchase the longtime retailer at auction. In 2021, JCPenney’s retail and operating assets exited Chapter 11 bankruptcy protection as part of the creation of Copper Property CTL Pass Through Trust according to Shopping Center Business.