J.C. Penney’s announcement that it will be closing 33 of its stores in 2013 was bound to cause pain to some landlords. According to a recent report from Morningstar Credit Ratings LLC, there are at least four malls where the scheduled closings are likely to cause major problems. For example, Hickory Point Mall, an 824,102-sq.-ft. property in Decatur, Ill, features both J.C. Penney and Sears as anchors, not a good combination given the dismal outlooks for both retailers. Morningstar has ...
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