August 10, 2020
Amazon is in talks with Indianapolis-based Simon Property Group to put Amazon fulfillment centers in empty anchor store spaces vacated by major tenants including Sears and JCPenney, the New York Business Journal reported. The story was first reported by The Wall Street Journal.
The talks have been ongoing for months, the sources said.
Simon and Amazon also have explored buying mall space back directly from the retailers, according to the WSJ.
Amazon also is considering putting locations of its upcoming grocery stores in some Penney locations, sources told the WSJ.
Just 60 full-line Sears stores, now operated by Transform SR Brands LLC, which bought some of bankrupt Sears Holdings Corporation’s assets in February 2019, are expected to remain by summer’s end.
Simon has been reported as a potential suitor for JCPenney, which declared bankruptcy in May, part of Simon’s strategy to rescue major retailers and keep its retail centers thriving.
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