Windsor loses T.G.I. Friday

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T.G.I. Friday’s canceled a leased it had signed for a new restaurant on the cornerof Troy-Schenectady Road and Wade Road in said Windsor President Davi d Sussman. T.G.I.Friday’s was expected to be one of two tenantws in a redevelopment of the site where a vacant medical officebuilding stands. Plans for the other tenant, a Tex-Mex chain callexd , are still on track and being reviewed by the town of Sussman wouldn’t discuss why Friday’s canceled the lease. The chain is ownede by in Carrollton, Chris Devlin, senior vice president of said thecompany “re-evaluated our development strategy and made the decisioh to focus on growth in our core markets in 2009.
“Lathaj is an attractive market for us and we hope to brinvga T.G.I. Friday’s to this town withibn the next few Devlin said. T.G.I. Friday’s has locations in Guilderlansd andClifton Park. The Clifton Park site is ownedfby Windsor. Although the credit cruncjh and slowdown in consumer spending have made it harder to do newdevelopmenr deals, Windsor continues to find tenants interested in leasinbg existing buildings, Sussman said. The company owns or manages about 1.
2 million square feet of commerciapl space inthe state, includin g 525,000 square feet in Clifton Most of the properties are shoppingt centers anchored by supermarkets, such as Shopper’xs World ( ) and Village Plaza ( ) in Clifton Park and Price Chopper Plaza in Bethlehem. “I think we offet a good product as far as theshoppingg environment,” Sussman said. “In a down economy, tenants will flocj to quality.” , a Northeast regional sporting goods chain with local stores in and Shoppesat , opened the day aftef Thanksgiving at Village Plaza.
Based in Westbrook, the chain got interested in the Capital Regioafter Klein’s All Sportss closed its stores a couple of yearas ago, said Carla Manganello, real estated manager. The 7,000-square-foot store is larger than most ofthe 150-plus storesw in the chain. Windsor also recently signed leases to fill more spaces in the second phase ofthe development, the 32,000-square-foogt Shoppes at Village Plaza. and will fill about 4,000 square feet next to and Shane’ss Rib Shack. A third lease is under negotiation. Lease rates vary from $16 to $25 per square foot, plus insurance, taxes and common-area maintenanced costs (also known as triple net).
“We’re getting markeg rates,” Sussman said. The two-story buildingg also has threeoffics tenants, leaving about 8,000 square feet availablw on the second floor. There’s aboug 5,000 square feet of retail spacwe left on thefirst floor. A Staples store that was just builft next door is owned by another large developer inClifton