1. Channel: Grocery

Wegmans Signs Lease For New NYC Space

The New York Post reports that Wegmans, having recently opened its first Manhattan store in Greenwich Village, has signed a “long term deal” for a space about four miles to the north near Lincoln Center, real estate that used to be occupied by a Bed Bath & Beyond.

The Post writes that “some kind of wonderful Wegmans will fill a big hole in Manhattan’s Lincoln Square area — but it’s unclear if this is the company’s typically upscale food market, or an entirely new concept … No stranger to the New York metropolitan area, Wegmans made its long-awaited opening in downtown Manhattan this past October, with hordes of brand fans lining up outside in the early-morning hours to be the first to shop there. Almost exactly four years before that, Wegmans debuted its first-ever New York City market in the Brooklyn Navy Yard.”

However, there is another possibility.  The Post quotes a Wegmans spokesperson as saying that “the space at 1932 Broadway has been leased by Danny Wegman and is a personal investment. At this time, we have no immediate plans to open a store at that location.”

“The lease is, however, guaranteed by Wegmans.”

KC’s View:

My guess is that this would be as close to a guaranteed winner for Wegmans as one could imagine.  It is smack in the middle of an enormous amount of an affluent residential area, and is about a half-mile north of the flagship Whole Foods unit on Columbus Circle.  In fact, it would be closer to the residents than the Whole Foods, and could take a chunk out of that store’s business.

The Astor Place store is wonderful.  The Brooklyn store is terrific.  An Upper West Side unit would almost certainly be a winner.

The post Wegmans Signs Lease For New NYC Space appeared first on MNB.

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