Darlington MP Lola McEvoy has spoken of her "natural worry" over the former Binns building, which was revealed as up for sale last week.
The Northern Echo reported on Tuesday that the "iconic" building - currently home to House of Fraser - had been put on the market with a £1m price tag.
This raised questions over the future of the store, which has been a retail landmark on High Row for decades and remains the town's last department store.
Frasers Group has yet to comment on the news - although Darlington Council Chief Executive Ian Williams said it was aware and understood the sale was with sitting tenant House of Fraser.
Speaking exclusively to The Echo on Saturday, Mrs McEvoy spoke of her "trepidation" about the news - but maintained a positive mindset as she said it was "impossible to speculate".
She explained: "I am worried about it - Binns is an iconic building on the high street. I treat the news like everyone has in the town - with a bit of trepidation.
“It’s been Binns since I was allowed to go into town on my own! I do think it is ideally positioned for a department store.
“There is a natural worry - but it is impossible to speculate. Let's keep a positive mindset and know that it's a great place in town for footfall. It’s good to see it still thriving."
Last week, shoppers told The Echo of their fears of Darlington becoming a "ghost town", saying it would be a “shame” if the “long-established and iconic building” was made empty.
The property sale brochure - which was published online last month - states how future uses of the building could include a new lease with House of Fraser or a potential new firm.
It also noted the potential revamp of the site to form high-quality retail and leisure units on the lower floor and residential, office, or hotel use for the upper floors.
Several residents told The Echo last week that they no longer use the former Binns and instead opt to do all their shopping online.
However, Mrs McEvoy said she was “sick” of hearing the argument that “everybody is shopping online” - saying there is nothing better than “feeling the fabric between your fingers” in person.
“I want to see the town accessible to as many people as possible," she said.
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However, she understood that the sale news could be worrying for some: "When there is uncertainty around jobs, it causes a great deal of anxiety, so it is definitely something I am keeping an eye on. But let's see what happens."
A full statement from Mr Williams said: “We are aware that the owner of the building has indicated that the building is for sale and, we understand, with a sitting tenant.
"Darlington Town Centre remains an attractive well-rounded location with a diverse retail and leisure offer attracting many visitors who enjoy the experience on offer."
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