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February 8, 2016

JC Penney looking at HQ sale, leaseback

NEW YORK (AP) — J.C. Penney is considering selling and partially leasing back its headquarters to help lower debt and create long-term savings.

The department store operator said Friday that it has a surplus of square footage available in the Plano, Texas office building, with favorable market conditions making it a good time for such a real estate transaction.

J.C. Penney Co. has been in the three-story building since 1992.




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