JCPenney is selling over 100 stores nationwide. What about the Boise mall store?
JCPenney is selling 119 stores across the U.S., including the store at the Boise Towne Square mall, in a $947 million cash sale to a private equity firm.
What does that mean for the future of the Boise store? JCPenney says it will stay open.
“The real estate transaction announced yesterday represents a change in landlord but does not impact JCPenney store operations,” the company told Fox Business. “These 119 JCPenney stores will continue to operate and serve our loyal customers and communities.”
That would be good news for the Boise mall, which has two anchor-store vacancies in spaces occupied by Sears until 2018 and by Kohl’s until this year. JCPenney, Macy’s and Dillard’s are the remaining anchors.
Onyx Partners, a Boston-area firm founded and led by Jeremy Y. Rieder, is set to buy the properties from a trust established by JCPenney’s lenders after the retailer filed for bankruptcy protection five years ago. Copper Property CTL Pass Through Trust acquired 160 retail locations and six warehouse distribution centers from JCPenney in 2020 as part of the Chapter 11 reorganization. Proceeds from the sale will go to JCPenney creditors.
JCPenney, Boise Towne Square, Onyx Partners and the trust did not immediately respond to inquiries from the Idaho Statesman on Thursday.
The deal affects stores across 35 states and Puerto Rico.
JCPenney has four stores in Idaho, including the store on Milwaukee Street in Boise, and one each in Nampa, Twin Falls and Idaho Falls, according to its store locator. The Nampa, Twin Falls and Idaho Falls stores are not part of the sale.
The trust expects to finalize the transaction with Onyx Partners on or before Sept. 8, according to a July 25 news release.
This story was originally published July 31, 2025 at 1:01 PM.
