Trader Joe’s Purchase in Colonie Spreads Rumors of an Expansion
Trader Joe's grocery stores have been a welcomed addition to the Capital Region. The first location on Wolf Road in Colonie opened in 2012 and seems to always be busy. The parking lot is jammed and at times it is hard to find a space. There are rumors that this location may be getting bigger.
Trader Joe's on Wolf Road in Colonie May be Expanding Soon
For the past eleven years, Trader Joe's has been leasing part of the retail plaza on Wolf Road in Colonie. They just announced that they have purchased the entire retail plaza. This purchase has those speculating that Trader Joe's may expand into the empty retail space next door.
Trader Joe's which is a California-based grocery store chain reportedly paid five point zero three million dollars for the retail plaza according to the Albany Business Review. The deed was filed on March 2nd with the Albany County clerk's office.
The Trader Joe's Plaza Has a Lot of Retail Space
The space is two point three acres with two buildings and a parking lot in the front and back. Trader Joe's is a thirteen thousand square foot space while the two empty storefronts next door are nine thousand square feet. The Honey Baked Ham Co. adds another two thousand eight hundred fifty square feet.
Because the parking lot is always busy, the previous owners may have had a hard time leasing the spaces next door to Trader Joe's. Mattress Firm and Super Cuts had closed because customers had a difficult time finding a parking spot in the plaza.
Trader Joe's has wanted to expand the grocery store for a few years. Only time will tell but it looks as if that is the future plan.
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