Technically, yes, the Acme at 10th and Reed is being sold. But don’t get your hopes up just yet for a giant, mixed-use project anchored by a mystical, urban Wegman’s.
We’ve been getting emails inquiring about Acme rumors ever since it was announced that the grocery chain’s parent company announced in January that it was selling all Acmes, as well as Albertsons, Jewel-Osco, Shaw’s and Star Market stores, to a private equity firm. The sale of all 877 stores is supposed to close March 31.
“Rumor, speculation and just plain ole wishful thinking, is all that I am hearing from people in our neighborhood as it pertains to Acme,” said Pam Zenzola, president of the board of the Passyunk Square Civic Association. “What I keep telling everyone, it is not just OUR Acme that is for sale, Supervalue is selling five of their grocery chains, including Acme. Who knows, the new owner may decided to keep all of the Acme stores just as they are….or not! Hopefully whatever happens we end up with a grocery store in our neighborhood!”
The new buyer is a turnaround expert, which gives us hope since Acme costs more and has worse selection than basically any other grocery store around here. Or, says one analyst quoted in this Philly.com blog post, the new buyer will just close a bunch of stores.
Meanwhile, it doesn’t appear that Acme owns the real estate, which the city says is valued at $3.46 million. A company called Susteve LLC took over the property in 2009 for $3. So maybe they’ll look to cash in on the land, and maybe we can eventually get that mixed-use project everyone keeps dreaming about.
Need us to get to the bottom of any other rumors? Email us at firstname.lastname@example.org and we’ll check it out.