JCPenney to Shut Down Pleasanton Mall Location in Early 2024
A JCPenney store at the Stoneridge Shopping Center in Pleasanton, California, is set to close in early 2024. The last operational day is confirmed for February 22, 2024. This decision comes as the retailer is unable to renew its lease terms.
Reasons for Closure
A spokesperson for JCPenney expressed regret over the closure, indicating challenges in finding a suitable new location in the market. They acknowledged the support of dedicated employees and loyal customers throughout the years.
History of JCPenney at Stoneridge Mall
Since its opening in the early 1980s, JCPenney has been a mainstay at the Stoneridge Shopping Center. However, the store has struggled financially in recent years, including a Chapter 11 bankruptcy filing in May 2020.
Ownership and Future Plans
- The Stoneridge Shopping Center is primarily managed by Simon Property Group.
- 300 Venture Group, which acquired the mall property in 2022, owns the land where JCPenney is located.
A representative from 300 Venture Group mentioned that leasing at the mall remains strong. They hinted at an exciting new tenant expected to arrive soon, though details are still under wraps.
Remaining Tenants After Closure
Following JCPenney’s closure, Macy’s will be the only major retail store left in Stoneridge Mall. The Sears location closed in late 2018, and Nordstrom ceased operations in late 2020. The retail landscape continues to evolve as companies navigate economic challenges.
