By Christine Graf
Local entrepreneur Russ Faden is finishing construction on a $2.2 million, 11,800-square-foot plaza at 894 Route 9 in Queensbury.
The project was financed through Pioneer Bank. Once construction is completed, Faden will relocate his Subway franchise currently at 870 Route 9. In addition to Subway, the plaza will be home to Sports Clips and Spectrum.
There are two additional spaces available for rent, he said. The vacant spaces measure 1,700 square feet and 2,400 square feet.
According to Faden, he hopes to have his Subway relocated and operational by May 15. He expects Sports Clips and Spectrum to open some time in June.
Faden operates 18 Subway locations between Northway exits 9 and 20. He employs approximately 100 full-time and part-time employees. Faden and his wife, Carrie, purchased their first Subway in downtown Saratoga in 2007. At the time, he was a full-time officer in the Saratoga Springs Police Department.
In recent years, Faden has focused his efforts on building plazas that are large enough to house his Subway restaurants as well as additional tenants. He owns three plazas in addition to his 894 Route 9 property. With each plaza that he opens, he relocates one of his nearby Subway franchises.
“We are relocating and updating as many Subways as we can to better locations and locations that we own,” said Faden. “Realistically, it will be about five years before we can convert and potentially change all of the stores.”
All of his new locations feature the “fresh forward” updated décor that was designed at Subway’s corporate offices.
According to Subway, stores that have updated to this new décor have experienced significant increases in both sales and traffic. Faden said he has found this to be true.
“The new store will have the brand new décor. It will be bigger and have more seating,” said Faden. “It also has better visibility, better parking, and better access to the traffic light—so the in and out is much better. The three things you look for when you relocate are to update your interior, and get better visibility and better in and out. This locations has all three.”
After work on his newest plaza is completed, Faden plans to develop a piece of property he purchased in South Glens Falls. He anticipates starting that project in June and having it completed in October.
“This one is about 3,600 square feet, and it’s another (Subway) relocation. It’s probably 200 yards from my current location. It’s a similar concept. It’s a brand new building and a brand new Subway. I’ll also have one other tenant there.”
Faden is also seeking approval to build approximately 50 apartments on vacant land at the corner of West Avenue and Station Lane in Saratoga Springs.
By Christine Graf