Mall operator Simon Property is in talks with Amazon to occupy space exited by consolidating department store and mid-tier retailer chains such as J.C. Penney, according to a Wall Street Journal report.
Amazon would use the mall properties as distribution hubs, according to the report.
Of course, J.C. Penney isn’t the only company in the department store/mid-tier sector closing stores. Macy’s and Sears have announced store closings as well, among others.
Media reports already have been issued about J.C. Penney’s recent bankruptcy court auction process, which include Sycamore Partners placing the winning bid and closing the bulk of J.C. Penney’s stores as it holds onto about 250 for conversion to the Belk banner, which the private equity firm owns.