PHOENIX (AZFamily) — More than 100 properties for major department store chain JCPenney have been sold to a Massachusetts-based private equity firm, and several of those stores are in Arizona.
Arizona’s Family has confirmed that of the 119 locations sold to Onyx Partners in a $947 million all-cash sale, three of four Arizona locations are in the Valley.
Earlier this year, the retailer announced it would close several locations, citing expiring lease agreements, market conditions and other business considerations. However, this sale isn’t expected to impact store operations…