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Bloomberg
Mall operator Simon Property Group Inc. has been in talks with Amazon.com to turn some empty store space formerly occupied by anchor tenants such as JC Penney Co Inc and Sears Holdings Corp into Amazon fulfillment centres, Dow Jones reported, citing people familiar with the matter.
The discussions started before the coronavirus pandemic, with the two companies exploring the idea of buying out occupied space from the retailers in some cases. Amazon has also been in talks with multiple mall landlords about putting its coming grocery-store chain in JC Penney locations, a person familiar with the matter told Dow Jones, though it couldn’t be determined if that included Simon malls.
It wasn’t clear how many stores are under consideration for Amazon, and it is possible that the two sides could fail to reach an agreement, the newswire said. Shares of Simon have fallen 58% this year. It’s partnering with Brookfield Property Partners to jointly bid for JC Penney, which filed for bankruptcy in May.