"PLEASANTON JCPenney says it will close its doors at Stoneridge Shopping Center in Pleasanton in about two months as the one-time retailing giant battles to steady its finances. The department store has been closing locations nationwide in the wake of the coronavirus outbreak and the company's bankruptcy in 2020. The JCPenney store at the Stoneridge Mall in Pleasanton will close its doors to the public on Feb. 22, 2026, the retailer stated in an email it sent to this news organization."
"The retailer's Pleasanton store occupies a site at Stoneridge mall that Danville-based real estate firm 300 Venture Group bought in 2022 for an undisclosed price, according to documents on file with the Alameda County Recorder's Office. The two-story JCPenney building in Pleasanton totals 155,900 square feet and occupies 9.8 acres, according to a post by Newmark, a commercial real estate firm that arranged the purchase."
"JCPenney has about 650 stores nationwide, the email disclosed. In 2020, Simon Property Group and Brookfield, two real estate titans, bought JCPenney out of bankruptcy. Pleasanton city officials are working with the four primary property owners at Stoneridge Shopping Center to develop plans for future housing and commercial redevelopment of part of the regional mall. Earlier this year, a private equity firm agreed to pay $947 million to buy 119 JCPenney stores, including a store in Antioch and another in Fairfield."
JCPenney will close its Stoneridge Mall store in Pleasanton on Feb. 22, 2026, ending operations at the two-story, 155,900-square-foot site. The property sits on 9.8 acres purchased in 2022 by Danville-based 300 Venture Group with Newmark arranging the sale. JCPenney cited inability to continue current lease terms and failure to find a suitable alternate location in the market. The company operates about 650 stores nationwide and was bought out of bankruptcy in 2020 by Simon Property Group and Brookfield. Local officials are coordinating with Stoneridge property owners on potential housing and commercial redevelopment plans.
Read at www.mercurynews.com
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