This major store at Southpoint mall has been sold. Here’s what we know
.JPG "Two JC Penney stores in the Triangle, including the North Hills location (pictured), closed years ago, leaving only the Durham store open.")
AI-generated summary reviewed by our newsroom.
- About 120 JC Penney stores in the U.S. were sold, including the only one in the Triangle.
- The Durham location remains open following the sale, as of publication.
- JC Penney is one of several retailers including Joann and Big Lots to file for bankruptcy recently.
A Triangle JC Penney store was among 119 locations included in a recent sale.
The store at The Streets at Southpoint was the only North Carolina location sold to an affiliate of Onyx Partners based in Massachusetts.
The other locations included in the sale span 35 states and Puerto Rico. Together, they total nearly 15.7 million square feet of retail space.
States with the most stores sold are Texas, with 21, and California, with 19.
The properties sold for $947 million in an all-cash transaction, which is scheduled to close on or before Monday, Sept. 8, according to Copper Property CTL Pass Through Trust. Copper Property was established as part of JC Penney’s Chapter 11 reorganization plan to acquire and sell 160 retail stores and six warehouse distribution centers.
What will happen to the Durham JC Penney?
As of publication, the Durham store remains open.
It and the other stores sold will stay open, JC Penney told The News & Observer in an email.
The department store has 13 locations in North Carolina, including in Fayetteville, Goldsboro, Burlington and Rocky Mount.
JC Penney locations at Cary Towne Center in Cary and at North Hills in Raleigh closed about five years ago as part of JC Penney’s annual review of its store portfolio, which included assessing stores that don’t meet financial targets or could be an opportunity to capitalize on a real estate asset.
The Raleigh location had been open for more than 50 years.
JC Penney bankruptcy
The Texas-based retailer filed for Chapter 11 bankruptcy protection in 2020.
JC Penney had made “significant progress” in its “Plan for Renewal” strategy to improve margins, reduce inventory and cut back on spending, then-CEO Jill Soltau wrote in a news release announcing the decision. But the COVID-19 pandemic sparked store closures, requiring the retailer to engage in a “more fulsome review” to eliminate debt.
The company said at the time that it would close stores as part of the bankruptcy process.
Two years before JC Penney made its announcement, another large U.S. retailer and one of JC Penney’s competitors, Sears, filed for Chapter 11 bankruptcy protection.
Since then, several large companies including Big Lots, Party City and Joann have faced bankruptcy, closing stores across the country and in North Carolina.
Stores at Southpoint mall in Durham
The Streets at Southpoint is anchored by large retailers including Nordstrom, Belk and Macy’s. Dick’s House of Sport, a concept from Dick’s Sporting Goods, is moving into the former Sears space at the mall.
Lego, PacSun and Vuori recently opened locations at the mall. Clothing retailers Alo Yoga and Aritzia are also expected to open stores there soon. The jewelry brand Gorjana is opening at The Streets at Southpoint in September, the company previously announced.
This story was originally published July 30, 2025 at 4:46 PM with the headline "This major store at Southpoint mall has been sold. Here’s what we know."