One of Idaho’s Four Remaining JCPenney Locations Sold in HUGE Deal

2025’s been an ugly year for department stores in Idaho. Macy’s chose to pull out of the unusually thriving Silver Lake Mall in Coeur d’Alene. JCPenney closed their location at the soon-to-be reimagined Pine Ridge Mall in Chubbuck. Closer to home? I don’t think that any of us saw Kohl’s closing their location at Boise Towne Square Mall coming.

Now, one of the remaining four Idaho JCPenney stores is part of a nearly $1 billion deal involving more than 100 JCPenney locations across the country. 

READ MORE: 9 Big Brands Most Likely Closing Idaho Locations in 2025

USA Today reports the iconic department store brand is selling 119 of their stores to a private equity firm based in Boston, Massachusetts named Onyx Partners, Ltd. The firm plans to pay $947 million cash for the properties, with most of that money going back to the people and companies JCPenney owed money to when the brand went through bankruptcy in 2020. The deal is expected to close on September 8. 

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During their 2020 bankruptcy, the department store’s lenders created a trust called “Copper Property CTL Pass-Through Trust” to manage 160 JCPenney retail stores and six warehouse distribution centers. That entity is listed as the primary owner of the JCPenney store at the Boise Towne Square Mall if you look up the address on the Ada County Assessor's website. 

Boise Towne Square Mall is listed as one of the 119 stores involved in this sale. Onyx Partners has not issued a public statement about the sale but there doesn’t appear to be any immediate plans to close the Boise location or any of the other stores that are part of the deal. 

Once the deal is complete, the stores will pay rent and operating expenses to their new owners.  

It’s not uncommon for big anchor stores at the Boise Towne Square Mall to be owned by a different company than the mall itself. According to BoiseDev, that’s the same case for the old Sears store, Dillard’s and Macy’s, too.