### Hilco Brings 121 Net-Leased JCPenney Properties to Market
Hilco JCP, LLC, an affiliate of Hilco Real Estate, LLC and manager of Copper Property CTL Pass Through Trust, announced that the trust has listed 121 net-leased JCPenney properties for sale. Located across 35 states, the portfolio comprises more than 16 million square feet, with a significant number of properties situated in major metropolitan areas such as Austin, Miami, Houston, Los Angeles, and New York. Notably, 50% of the properties are in the Sunbelt region, including 21 locations in Texas.
Each store in the portfolio averages 132,700 square feet and is bound by an absolute, triple-net long-term master lease with JCPenney as the sole tenant. The retailer is jointly owned by Simon Property Group and Brookfield Asset Management, two of the largest retail mall operators in the United States.
For the marketing of this portfolio, Hilco JCP, LLC has engaged Newmark’s national retail capital markets team. The deadline for submitting offers is set for February 26.
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Steve Griffin is based in sunny Palm Harbor, Florida. He’s an accountant by profession and the owner of GRIFFIN Tax (www.griffintax.com) and REVVED Up Accounting (www.revvedupaccounting.com). In addition, Steve founded Madison Avenue Technology (www.madisonave.tech). With a strong passion for commercial real estate, he’s also dedicated to keeping you up to date with the latest industry news.
