J.C. Penney to exit pricey SoHo building

J.C. Penney (JCP) has worked out an arrangement to rid itself of a pricey office building in the SoHo neighborhood of New York City, according to the New York Post.

The warehouse and retail space, which was a pet project of former CEO Ron Johnson, was piling up some serious renovation costs.

The decision to exit the trendy building falls in line with current management's back-to-the-basics principals.

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Comments (1)
  • vcccd
    , contributor
    Comments (85) | Send Message
    Good move that goes directly to the bottom line in upcoming Qs
    12 May 2014, 12:39 PM Reply Like
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