Slingerlands Shoprite
Sprawl at work ... paraphrasing from the Times Union:
Four out of the five ShopRite locations opened about ten years ago, and although they initially moved into newly constructed buildings, the actual ownership of these structures lies with limited liability companies (LLCs) rather than ShopRite itself. These LLCs lease the space to the grocery company through long-term agreements. However, there is uncertainty surrounding the current entities managing these LLCs and whether they have any affiliations with ShopRite's parent company, Wakefern Food Corp.
Initially, Columbia Development, based in Albany, owned the buildings in Albany, Bethlehem, Colonie, and Niskayuna when ShopRite established its presence. Subsequently, Columbia Development has sold all these properties. Notably, the Bethlehem ShopRite building's LLCs have been enjoying tax breaks since the agreement's approval in 2011, with last year's tax break amounting to $44,188, as per the town IDA's annual report. It is interesting to observe that these tax breaks are scheduled to conclude next year, although the recent store closure does not impact their continuation, according to Bethlehem IDA Executive Director Catherine Hedgeman. The IDA is yet to receive information on whether a different business will occupy the vacated space.
In Colonie, Columbia Development projected that ShopRite would generate 335 jobs when applying for tax breaks. However, according to the state's WARN notice, only 99 individuals, along with five at the accompanying gas station, were employed when the closure announcement was made last month. Similarly, a decade ago, Bethlehem's location anticipated creating 300 jobs, but at the time of closure, only 114 individuals were employed.