The deal with Simons Property Group would give Amazon access to space formerly occupied by Sears and J.C. Penney, both of which have filed for bankruptcy, the Wall Street Journal has reported.

Amazon could be eyeing former anchor stores in malls as a way to take advantage of contemporary brick-and-mortar trends. In recent times, big flagship stores and small experience stores have proven to be most successful. "Amazon has made its way into some of the smaller experience stores with its convenience stores and books and media stores so it makes sense to move into a larger format that builds on what they've done with Whole Foods," Gross said, "but it's also possible that they'll just use these space to better operate last mile fulfillment."