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J.C. Penney to Profit from Headquarters Land Development Deal

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J.C. Penney may be about to make a nifty profit, but it's not going to be tied to its retail sales. In another example of how real estate holdings can sometimes be of more value than a retailer's operating business, the department store chain plans to take advantage of the red hot real estate market in Plano, Texas to develop a 240-acre land site near its headquarters, according to Bloomberg. J.C. Penney hired three firms to work on the land, which will likely feature a mix of ...

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Elaine Misonzhnik

Senior associate editor Elaine Misonzhnik has been writing for National Real Estate Investor since June 2006 and has covered commercial real estate for more than 12 years. She first became...
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