GGP Inks $150M Contract For SoHo JC Penney Building

Law360, New York (September 19, 2013, 2:51 PM ET) -- Mall-focused real estate investment trust General Growth Properties Inc. has inked a deal to buy J.C. Penney Co. Inc.'s office building at in Manhattan from the Kushner Cos. for about $150 million, a source close to the deal told Law360 on Thursday.

J.C. Penney occupies about 130,000 square feet at 200 Lafayette St. under a 15-year lease, according to various news reports from the time the lease was signed in 2012. The all-cash deal for the 121,354-square-foot property at 200 Lafayette St. in SoHo is expected...
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