There are several companies looking to capitalize on recent store closures at top-performing malls right now, including Tesla (TSLA - Get Report) , Apple (AAPL - Get Report) , Starbucks (SBUX - Get Report) and even e-commerce chains.
In a recent research note highlighting real estate investment trust Simon Property Group's (SPG - Get Report) ability to outperform its competitors due to its "class A [top malls] portfolio," Canaccord Genuity analysts Paul Morgan and Joseph Ng said "there remains a backlog of retailers seeking to fill space in A-malls vacated by bankruptcies."
Malls are classified as A, B and C. Typically, C malls have an 85% occupancy rate or lower.
Malls are experiencing a spate of store closures from struggling department stores like Macy's (M - Get Report) , J.C. Penney (JCP - Get Report) and the disastrous Sears (SHLD) , as well as from bankrupt apparel retailers including Wet Seal, BCBG Max Azria and The Limited.
But space at A malls, such as the 70 out of the total 108 that Simon Property operates, is still in demand, according to Canaccord.
The analysts said in the note that Simon Property's top 70 assets account for 85% of mall net operating income, generating on average sales per square foot of $782.
"Retailers are focused on expanding their presence in precisely these type of centers," the analysts said.
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Morgan was not immediately available for further comment.
Canaccord said the companies looking to squeeze into the growing vacant spaces include Tesla, Apple, Starbucks, Spanish clothing and accessories discounter Zara, cosmetics retailers Ulta Beauty (ULTA - Get Report) and Sephora and e-commerce companies, including men's fashion retailer Bonobos, jewelry retailer Blue Nile (NILE) and glasses seller Warby Parker.
While Apple and Starbucks are widely known to have a large presence in malls, electric car maker Tesla may come as a surprise to some.
In May, Bloomberg reported, citing Green Street Advisors research, that a Tesla showroom was located in 24 malls across the country, which led to higher sales per square foot at those properties.
It is unclear if that number still holds true. Green Street Advisors did not immediately return a request for comment.
Tesla did not return a request for comment.
Meanwhile, e-commerce companies - including giant Amazon (AMZN - Get Report) which TheStreet recently learned has opened tiny stores in 29 malls across the U.S. - are increasingly seeking a bricks-and-mortar presence. As Canaccord points out, 67% of total e-commerce sales are generated by retailers with physical stores making omni-channel "the dominant strategy."
First quarter store closings did negatively impact Simon Property's near-term occupancy, Canaccord said, but "the demand/supply equilibrium is more balanced in Simon's A-malls than broad industry trends suggest."