Wegmans Food Markets announced Thursday it will be opening its second location in New York City and its first in Manhattan, as it moves into the old Kmart location at Astor Place.
The grocery chain with a cult-like customer following said it signed a 30-year lease at the roughly 82,000-square-foot location at 770 Broadway.
The store is expected to open in the second half of 2023. Wegmans opened its first New York City location in the Brooklyn Navy Yard in October 2019.
The deal was brokered by Ripco Real Estate, whereby Wegmans signed an agreement with Sears and Kmart owner Transformco to buy out Kmart’s lease at Astor Place. The grocer has entered into the long-term lease with property giant Vornado Realty Trust.
“Wegmans is one of a kind and will be a best-in-class addition to Manhattan, both for the local neighborhoods and as a destination for residents from across the island,” Vornado CEO and Chairman Steven Roth said.
The store was the last Kmart left in Manhattan when it shut its doors unexpectedly this month.
Source: Business - cnbc.com
