119 JCPenney stores sold, including these 4 in Arizona. Here’s what to know Article originally posted on AZ Central on July 31, 2025 More than 100 JCPenney stores, including four in Arizona, will be sold to a Boston private equity firm for $947 million. The all-cash sale of 119 JCPenney properties to an affiliate of Onyx Partners, Ltd. was announced on July 25. The companies expect a Sept. 8 closing of the deal for the net-lease stores, which pay rent and operating expenses. Property management company Newmark and Hilco Real Estate had been seeking buyers for these JCPenney locations for Copper Property, a trust formed by JCPenney’s lenders as part of the retailer’s reorganization after its 2020 bankruptcy filing. Following JCPenney’s bankruptcy, Copper Property took control of about 160 JCPenney locations and six distribution centers. Simon Property Group and Brookfield Asset Management Inc. took over JCPenney operations and the remaining locations. The department store chain, which currently has about 650 stores, was one of the largest retailers to file for Chapter 11 bankruptcy protection. The money from the transaction will go to JCPenney creditors. After closing costs, between $928 million and $932 million will be distributed, principal financial officer Larry Finger said on July 28 during a conference call discussing the transaction. Which JCPenney stores in Arizona were sold? These Arizona stores were set to be sold by Sept. 8: Glendale: Arrowhead Towne Center location, 7750 W. Arrowhead Towne Center Goodyear: Palm Valley Cornerstone location, 13333 W. McDowell Road Mesa: Superstition Springs Mall location, 6525 E. Southern Ave . Yuma: Yuma Palms Regional Center location, 1375 S. Yuma Palms Parkway Will the JCPenney stores close? All 119 stores that were sold are currently operational. The buyer, Onyx Partners, did not respond to a request for comment from USA TODAY. JCPenney closed more than 200 U.S. locations when the retailer filed for bankruptcy amid the COVID-19 pandemic. More recently, seven store closings announced in February 2025 became official in May 2025. No Arizona locations were shuttered. Who bought JCPenney? An affiliate of Onyx Partners, Ltd., which is a Boston-based private equity firm, bought JCPenney. JCPenney stores in Arizona There are 17 JCPenney stores in Arizona, including the four stores that were sold. The other stores are located at: Ahwatukee Foothills: 5050 E. Ray Road Casa Grande: 1041 N. Promenade Parkway Chandler: 2180 S. Gilbert Road Douglas: 90 W Fifth St. Flagstaff: 4600 N. US 89 Lake Havasu City: 5651 State Route 95 N. Nogales: 220 W. Mariposa Road Phoenix: 4510 E. Cactus Road Prescott: 3200 Gateway Blvd. Show Low: 4481 S. White Mountain Road Tempe: 1900 E Rio Salado Parkway Tucson: 4530 N. Oracle Road; 5265 S. Calle Santa Cruz