NORWICH ― Recently, the online auction for the Grand Union Plaza closed with a winning bid of $1.675 million, for the plaza property located at 54 East Main Street in Norwich.

  “This plaza carries an immense importance to the City of Norwich. What was once offices for Victory Markets, then redeveloped into the plaza that stands today. It’s crucial that we assist the plaza ownership in moving forward," said City of Norwich Mayor Robert Jeffrey.

"The City of Norwich stands ready and able to assist in any capacity to make a productive use of that property for the betterment of our residents," Jeffrey added.

The auction ran two days, starting on April 20, and ending on the April 22, with intense bidding in the last half hour. Bid increments were established at $100,000 per bid to start and then decreased, finishing off with $10,000 increments.

First day bidding started slowly at $500,000 then a few more bids went in, raising it to $800,000, but it all started moving and shaking on the final day when bidding went to $1 million and continued rising the last few hours.

A reserve was set for the sale price and met on the second day, ensuring the seller would receive his requested price.

Despite several attempts made by the Evening Sun Wednesday afternoon and Thursday morning officials and representatives would not disclose any information about the winning bidder. Though officials said the information would likely be accessible in the near future.

The property will stand as sale pending until the closing date within 30 to 60 days. An addendum was added to the Purchase Sale Agreement incorporating the time expansion.

With 85% of the plaza leased, the new owner will have about 9,000 square feet to offer tenants. 

Also, Grand Union will continue to pay their lease until 2030, which will support the owner while searching for their next anchor tenant.

In February of this year, the Norwich Grand Union store closed its doors, leaving the community concerned for the plaza and their livelihood.