JCPenney announced its intention to close four locations in the CBL portfolio at Hickory Point Mall in Forsyth, IL, Janesville Mall in Janesville, WI, Wausau Center in Wausau, WI, and Northgate Mall in Chattanooga, TN. CBL anticipates store closures to occur in the second quarter. Three locations are leased from CBL.

The Northgate Mall store is leased from a third party and CBL will work with the building owner to facilitate its redevelopment. The stores aggregate approximately 499,000 square feet and $1.4 million in gross annual rent. JCPenney will continue to pay rent until lease expiration.