JCPenney has sold its building in the Acadiana Mall but will remain as a tenant.

The troubled retailer confirmed that it will remain open after selling the building to Miami-based real estate investment firm Lionheart Capital. The price tag for the transaction was $705,302 according to documents filed with the Lafayette Parish Clerk of Court's Office.

According to JCPenney spokeswoman Sarah Holland, the store "will remain open and continue serving customers in the greater Lafayette area."

Things have not been good recently for the legendary retail giant. The company reported a net loss of $154 million in the first quarter of 2019 with sales down 5.5%.

In March, JCPenney announced they would be closing 27 stores nationwide. In 2017, they closed stores in Baton Rouge, Slidell and DeRidder.

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