There is no expectation that JCPenney will successfully renegotiate or extend its lease at Cookeville Mall
By Heather Thomas, Associate Publisher
For decades, Cookeville Mall’s long-standing lease with JCPenney shaped what Retail Partners could and could not do with the property. Now, with that lease expected to expire next year, mall ownership is looking ahead to a new chapter for one of Cookeville’s most visible retail sites and its 14-acre property.
According to mall ownership, there is no expectation that JCPenney will successfully renegotiate or extend its lease at Cookeville Mall. That makes the upcoming lease expiration a pivotal moment for the property, giving ownership the flexibility to move forward with redevelopment plans that have long been limited by the existing lease structure.
Lease Expiration Opens Door for Redevelopment
The timing comes as JCPenney works through its own national repositioning efforts. The company has invested heavily in store experience, digital shopping, beauty, fashion and home categories as part of a broader strategy to modernize the brand and remain competitive in a changing retail landscape.
JCPenney announced a multiyear, self-funded $1 billion reinvestment plan in 2023 and recently expanded its home offerings with two new collections in 2026.
While the retailer continues to maintain a national footprint, the company has also been selective about locations affected by mall redevelopment, lease structures and shifting property conditions. For Cookeville Mall, the end of the lease could create a long-awaited opportunity to reimagine the site beyond the traditional department store anchor model.
JC Penney
ICSC Trip Signals Search for Fresh Ideas
Cookeville Mall ownership had representation attending ICSC Las Vegas 2026, one of the retail real estate industry’s largest gatherings, to explore ideas for the property’s future.
ICSC describes the event as a major commercial real estate gathering focused on dealmaking, networking and forward-looking conversations surrounding the future of marketplaces.
Years ago, Johnny and Jack Stites, who make up Retail Partners, hoped the property could attract major national anchors such as The Home Depot or Target. Those retailers, however, have since been secured for the major Cookeville development along Willow Avenue.
Could Costco Be Part of Cookeville’s Future?
Could the 14-acre property eventually attract a retailer like Costco after JCPenney exits? It is not impossible, but the case would likely need to center around Cookeville’s role as the Upper Cumberland’s regional retail hub rather than city population alone.
Costco’s current expansion strategy favors large trade areas, high-traffic corridors and sites capable of supporting a warehouse, fuel center and extensive parking.
While the Willow Avenue development has already secured major national anchors, the larger question for Cookeville Mall ownership is whether the property can be repositioned for the next wave of destination retail, service, entertainment or mixed-use concepts tied to the region’s growth.
A New Vision for a 14-Acre Retail Site
Retail Partners now appears to be looking at the mall through a different lens, not simply as a place to fill empty square footage, but as a potential hub for a new vision of commerce.
That could mean a more flexible mix of retail, restaurants, services, entertainment, community uses and experience-driven concepts. Across the country, mall owners are moving away from relying solely on traditional department stores and toward mixed-use destinations that give consumers more reasons to visit, gather and spend time.
The Next Chapter for a Familiar Retail Landmark
For Cookeville, the question is no longer only what replaces or reshapes the JCPenney space. The bigger question may be what type of commercial center best serves a growing regional market in the years ahead.
As Putnam County continues attracting new development, housing growth and regional investment, Cookeville Mall remains a strategically located property with visibility, infrastructure and history. With the JCPenney lease nearing its end, ownership could finally gain the flexibility needed to reposition the property for the next generation of retail.
The challenge and opportunity will be creating something that matches Cookeville’s growth while giving shoppers, businesses and community partners a fresh reason to return to the mall.
Google Earth image.
Copyright 2026 The Upper Cumberland Business Journal. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
Other stories you may want to check out:
