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JCPenney Acquires 121K SF Space At Willowbrook Mall in Wayne, NJ

JCPenney Acquires 121K SF Space At Willowbrook Mall in Wayne, NJ
Traded Media
by Traded MediaShare

JCPenney is set to relocate from Wayne Towne Center to Willowbrook Mall in Wayne, N.J., occupying a space of 121,000 square feet. This move entails the retailer taking over the area previously held by Lord & Taylor.

Financial Implications of Willowbrook Mall

Willowbrook Mall, spanning 1.5 million square feet, is under a $360 million loan. This loan, managed by Bank of America Merrill Lynch Large Loan Inc., 2013-WBRK, carries a 3.547 percent coupon rate and is due to mature in March 2025.

Ownership of Willowbrook Mall

The mall is owned by Brookfield Properties, a notable real estate company with a diverse portfolio.

JCPenney's decision to move to Willowbrook Mall marks a significant shift in retail space utilization. The financial context reveals the mall's substantial loan obligations, while its ownership by Brookfield Properties underscores its significance in the real estate market.

Published: February 19, 2024

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