Department store chain J.C. Penney, bought by Simon Property Group and Brookfield Asset Management from bankruptcy last December, has finalized a master lease agreement for 160 U.S. retail stores and six distribution centers with a property-owning entity owned by lenders, where the retailer will pay $156.6 million in annual rent to lease those properties for at least 20 years.
J.C. Penney Master Lease Finalized on Real Estate Tied to Property-Owning Entity
Retailer's Annual Master Lease Obligation of $156.6 Million Tied to 160 Stores, Six Logistics Hubs
CoStar News
February 4, 2021 | 9:38 P.M.
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6501 Legacy Dr, Plano, TX