Wegmans announces sale of Pond Street location to developer
By Maren Guse
Mon, 16 Jul 2012 15:29:11 GMT — Wegmans announced the sale of its Pond Street store to a developer Morgan Acquisitions LLC.In a written release Monday morning, Wegmans says the developer has, "indicated their intention to lease the space to a grocer." As a policy, Wegmans does not sell its stores to other supermarket chains.Wegmans spokesperson Evelyn Carter said earlier this month that, "Although our policy is typically not to sell to competitors, in this instance, based on the situation on the North side of Syracuse, we have made an exception and will accept proposals from anyone who is interested in purchasing the building."Wegmans Food Markets announced its plan to close its Pond Street store on 1st North Street in Syracuse in early June.Carter said at the time that the company had "seen a shift in business." She said there had been a decline in the number of shoppers and an increase in operating costs.Neighbors on the North Side of Syracuse immediately began working to bring another grocery store into the area. The North side's Danforth/Pond/Butternut Task Force encouraged Wegmans to sell the Pond Street store to another grocer and held a rally about it in early July.CenterState CEO President Robert M. Simpson issued a written statement praising Wegmansâ?? handling of the sale of the Pond Street store."Todayâ??s announcement reminds us why Wegman's has rightfully earned a sterling reputation as an employer of choice and a company that cares about the community," Simpson said. "Wegmanâ??s executives have worked openly and tirelessly with the City, neighbors and CenterState CEO to come up with this welcomed solution â?? addressing the companyâ??s needs, preserving jobs, and ensuring continued access to a full-line supermarket for north side residents who have depended on this store for generations."According to its website, Morgan Management LLC is based in Rochester and has been in the real estate business since 1976. Its portfolio includes apartment communities, RV resorts, office buildings, shopping plazas, and storage facilities.
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