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Amazon will buy back properties from bankrupt retailers in shopping malls



Amazon, the largest Internet retailer, plans to use the space in the shopping malls for order distribution points.
Amazon

The largest Internet retailer Amazon plans to buy some of the space in the U.S. shopping centers and use them as their points of delivery. According to The Wall Street Journal, the Internet giant is currently negotiating with one of the largest owners of retail real estate Simon Property Group. 

As part of the deal, Amazon may acquire ownership of the premises previously leased by J.C. Penney Sears. Simon's portfolio includes more than 70 retail outlets, which were released after the retailers' bankruptcy. In their place, Amazon expects to launch a network of processing and ordering centers. 

At the end of the second quarter of 2020, when a significant portion of retail facilities was closed worldwide due to quarantine, Amazon has increased revenue by 40% year-on-year to $ 88.9 billion. The company's net profit reached $5.2 billion, doubling. The market capitalization of Amazon has exceeded the mark of $1.5 trillion, with Jeff Bezos estimated at $180 billion.

Market participants note that the wave of bankruptcies in the U.S. retail market has led to significant losses of fees for Simon. He may be interested in letting the area even at much lower rates. Due to the crisis in the retail and shopping center market, the company's shares have fallen in price by 60% since the beginning of the year. 

For Amazon, it may be a simple and profitable solution for the company to develop an inexpensive "last mile" delivery route to its customers. Last year the company's division delivered a record 5.2 billion orders to the U.S. How many spaces in shopping malls Amazon can buy to develop a network of delivery points is not yet reported.

More about shopping malls in the USA



Sep 18, 2020, Taiwan:
Dutch studio MVRDV has transformed an abandoned shopping center in Taiwan into an unusual public space.
Sep 18, 2020, Israel:
In Israel, a national quarantine begins to operate again from September 18, 2020.
Sep 18, 2020, Sweden:
Shoppers will select goods from different stores in the mall on one website and then pick them up conveniently.
Sep 17, 2020, Spain:
The outlet begins its countdown and fires the starting signal during the "Digital Lighting" event.
Sep 17, 2020, China:
Maison Martell officially opened L'Atelier Martell Shenzhen - a luxury boutique where you can taste and buy exclusive varieties of cognac.
Sep 17, 2020, USA:
The new retail store layout is expected to be very convenient for quickly and safely receiving online orders.
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