Updated 07/16/2012 05:08 PM
Buyer announced for Pond Street Wegmans
A buyer has been announced for the Pond Street Wegmans. Official word came in Monday morning during a brief news conference at Syracuse City Hall. YNN's Kat De Maria has been following this story and has more.
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SYRACUSE, N.Y. -- It's the next step toward filling the void left behind by the closing of the Pond Street Wegmans in Syracuse. The store officially closed in June.
Monday, Wegmans announced a deal in principle to sell the location to Morgan Acquisitions LLC. The company has indicated intentions to lease the space to a grocer.
Wegmans closed the store at the beginning of June, citing declining sales, but many city officials and residents have been worried that the closure would create a food desert in the area.
Wegmans’ policy is not to sell former locations to competitors, but said they would be willing to make an exception because of the area's needs.
Syracuse Mayor Stephanie Miner says the sale is a big step for the north side community.
"I feel very confident that there is going to be a grocery store there. Obviously, there are no guarantees. But where we were a month ago was Wegmans was saying it was their corporate practice not to sell to people who are going to put grocery stores. The biggest obstacle was removing that," Miner said.
Morgan Acquisitions LLC has developed in the past for companies like Price Rite, Family Dollar and Kinney Drugs, but the mayor hopes they will consider all proposals.