Amazon Stores a Huge Draw: Retail Developers

As increased vacancies plague malls across America, landlords are seeking Amazon (Seattle) as a high-profile anchor tenant to draw more shoppers.

The retailer announced last week that it would be opening more Whole Foods grocery stores with new formats, reversing course with its 365 stores, and that it would open a brand new grocery concept that’s yet to be detailed by the company. It also plans to open different types of stores, including bookstores and pop-up shops.

Monday at a property conference in Hollywood, Fla., reports the Wall Street Journal, Don Wood, CEO of Federal Realty Investment Trust, said, “The idea of more demand from [Amazon] is a huge positive for me.” Jay Luchs, Vice Chair at real estate consulting firm Newmark Knight Frank, added, “When Amazon comes knocking, it feels like Apple has showed up.”