Leases Still Hold the Line
Despite the turmoil, J.C. Penney continues to operate under triple-net master leases at all the locations. Under those agreements, tenants cover insurance, taxes and maintenance costs — a stabilizing factor as the trust charts its next move.
For now, the sale of JCPenney store collapses like a snapped chain, leaving a billion-dollar question mark over one of the nation’s largest retail property portfolios.
