A sign reading “Available” was posted outside of Regent Mart this week, raising questions and concerns about the business’s future.

The property is listed for sale online under White Box Commercial Property Group, though there are limited details regarding the timeline and reasoning behind the listing, as well as the future of the grocery store.

Regent Mart is a local store that many students frequent for groceries, alcoholic beverages and ethnic foods, according to the store’s website.

Many residents and University of Wisconsin students frequent Regent Mart due to its proximity to campus and its location near neighborhoods where many students reside.

Students often rely on local convenience stores like Regent Mart due to the lack of other grocery stores in the area and transportation, according to UW student Rachel Marcotte.

“It’s [Regent Mart] really important for us students because we live in an area where there’s not a ton of grocery stores,” Marcotte said.

Students also rely on local grocery and convenience stores because they are convenient and are often staples for students to go to if they are in need of a hot meal or pantry items, according to Marcotte. Marcotte said Regent Mart is one of the few stores in this area aside from traditional fast food chains and local restaurants, which explains its great significance.

Local and independent businesses also play a large role in the Madison economy in which potential store closings can really impact the local economy, according to Marcotte.

While it is unclear as to what will happen to Regent Mart, concerns about the loss of diversification is another issue that may arise with the store closing.

Regent Mart sells foods of different cuisines such as Indian and Korean foods, along with pantry staples, which provides diversity and variety in the items carried, according to Marcotte.

“Having a diversity of business owners and options is important to keep prices down and to keep the culture of the area from becoming too monotonous,” Marcotte said.