The JCPenney store at St. Charles Towne Center in Waldorf, Maryland, is one of 119 locations sold to an affiliate of Boston-based private equity firm Onyx Partners, Ltd., for $947 million, according to Copper Property CTL Pass Through Trust. Announced on July 25, 2025, the Waldorf JCPenney sale is part of a transaction set to close on September 8, leaving the store’s operational future unclear.
The Waldorf JCPenney sale follows JCPenney’s ongoing restructuring efforts after emerging from Chapter 11 bankruptcy in December 2020. The company, which filed for bankruptcy reorganization in May 2020 amid pandemic-related closures, has faced economic challenges, including high inflation and rising interest rates impacting its core budget-conscious customers, typically families with median incomes of $50,000 to $75,000. Copper Property Trust noted that Onyx Partners completed due diligence, with a non-refundable deposit securing the deal.
Currently, the Waldorf JCPenney at 11130 Mall Circle remains open, offering apparel, home goods, and accessories. However, Onyx Partners has not clarified whether the store will continue operating post-sale. The Waldorf JCPenney sale aligns with JCPenney’s broader strategy to streamline operations, which included closing seven stores nationwide in May 2025.
In Maryland, the Waldorf JCPenney sale is joined by the White Marsh Mall location in Baltimore. In Virginia, stores at Southpark Mall in Colonial Heights and Peninsula Town Center in Hampton are also part of the transaction. JCPenney’s CEO, Marc Rosen, told FOX Business in 2023 that the company invested over $1 billion to enhance its store portfolio and product offerings, aiming to remain a cost-effective alternative to competitors. Despite these efforts, the Waldorf JCPenney sale reflects ongoing adjustments to a shifting retail landscape driven by e-commerce growth and changing consumer habits.
The Waldorf JCPenney, a staple at St. Charles Towne Center, has served shoppers with brands like St. John’s Bay and Liz Claiborne. Its potential closure could impact local retail dynamics, though JCPenney continues to operate nearly 650 stores nationwide and online at jcpenney.com. In May 2025, a company spokesperson emphasized continued service at remaining locations, but no specific assurances were made for stores involved in the Waldorf JCPenney sale.
The Waldorf JCPenney sale underscores JCPenney’s post-bankruptcy challenges, with the retailer reducing its footprint from over 800 stores in 2020 to about 650 today. As the September 8 closing date approaches, shoppers await clarity on whether the Waldorf store will remain a fixture at St. Charles Towne Center or face closure under new ownership.
