Glens Falls Business Journal

Mikado Japanese Restaurant In Glens Falls Reopens In Larger Space With Bigger Menu

October 11, 2018October 11, 2018

Danny Chang, owner and chef, has re-opened Mikado Japanese Restaurant at 197 Glen St. in Glens Falls. Seating has been increased to 150 and the menu has been upgraded and expanded.

By Jill Nagy

After a month’s hiatus, Mikado Japanese Restaurant in Glens Falls is back, a block away and twice the size, at 197 Glen St.

There is a new bar, an expanded menu, some 10 additional staff people and, if all goes well, there will soon be new grills in the six hibachi tables.

Plans for an expanded restaurant had been in the works for some 18 months, according to co-owner Danny Chang. The restaurant, at its previous location, was closed a month ago. That building will be converted to mixed apartments and commercial use. The month in between was used to convert the former home of Adirondack Billiards into a 5,000-square-foot eatery.

A soft opening was held Oct. 5. A

Pathway Corridor Traffic Study Reveals Options For Improving Routes 9 And 149

October 11, 2018October 11, 2018

By Maureen Werther

A stretch of road along Route 9, from Route 149 to Sweet Road in Queensbury (Exit 20), is the subject of a $100,000 traffic study, an area for “targeted growth, investment, revenue and new jobs” that is expected to span over the next decade, according to Ed Bartholomew, president and CEO of EDC Warren County.

The study was completed by the engineering firm of Creighton Manning LLP and funded by EDC Warren County, Warren County and National Grid. In September, EDC Warren County held what was billed as an “open house and interactive meeting” to discuss he study.

Currently, the area has a mix of residential homes and commercial businesses. According to the press release put out by EDC, the “success and growth of this corridor collectively over time has led to increased traffic and congestion beyond normal seasonal peaks.”

Granville Medical Center Expansion Creates Improved Comfort, Convenience For Patients

October 11, 2018October 11, 2018

A more spacious waiting room is part of the Granville Medical Center expansion.
Courtesy Glens Falls Hospital

Glens Falls Hospital has completed a major expansion and renovation of its Granville Medical Center that officials said improves patient comfort and convenience and leads the way for an expansion of primary care and integrated behavioral health services.

An approximately 2,000-square-foot addition on the north side of the building now serves as the main entrance and houses a new, more spacious waiting room and patient registration area, and an expanded laboratory for diagnostic tests.

The 1,400-square-foot area previously occupied by those services has been renovated into three new exam and consultation rooms and office space for the center’s physicians, physician assistants and nurse practitioners.

The project was funded in its entirety through a grant from the state Capital Restructuring Financing Program (CRFP), in coordination with the Delivery System Reform Incentive Payment (DSRIP) program. The CRFP grants help hospitals and healthcare providers fund critical capital and infrastructure improvements to integrate and further develop health systems.

Business Briefs

October 11, 2018October 11, 2018

The Adirondack Trust Co. has once again secured a 5-Star rating from BauerFinancial, a bank rating firm.

Earning a 5-Star rating indicates this bank excels in areas of capital adequacy, profitability, asset quality and much more. Earning and maintaining this top rating for 49 consecutive quarters, puts the Adirondack Trust Co. in an even higher bracket as an “exceptional performance bank”.

This title is achieved after successfully earning the top 5-Star rating for 40 consecutive quarters (ten years or longer).

BauerFinancial Inc., based in Coral Gables, Fla., has been reporting on and analyzing the performance of U.S. banks and credit unions since 1983.

Companies Nominated For Business Awards

October 11, 2018October 11, 2018

The Washington County Local Development Corporation and the Adirondack Regional Chambers of Commerce announced the nominees for the 2018 Washington County Business Awards.

In the Professional Business Category, nominees are: Adirondack Studios, Capital Tractor Inc., Golden Goal Sports Park, Irving Tissue and Morcon Tissue.

In the Rookie Business Category, nominees are: Bonnie & Clyde’s Gourmet on the Run, Broadway Upstate and On the Rocks Pub.

In the Small Business Category, nominees are: Argyle Cheese Farmer, Bug U Pest Control, Hunt Companies Inc., Lakeside General Store and Lavenlair Farms.

Commercial Real Estate Market In Region Is Strong; Area’s Growth Potential Is Attractive

October 11, 2018October 11, 2018

Glen Street Associates completed a $2 million renovation of the former Glens Falls post office.

By Maureen Werther

As Glens Falls and the surrounding region continues to experience growth in the business, educational, industrial and healthcare sectors, it is also balancing new growth with a commitment to rehabilitating and modernizing older existing structures to preserve the region’s history and aesthetic.

Peter Hoffman, his wife and business partner, Suzanne Hoffman, have taken on 17 projects in as many years. Their interest in expanding opportunities in the region and also preserving some of its architectural beauty keeps growing.

“We have been in the commercial market in Glens Falls since 2004, and every year we see more progress,” said Hoffman.

They just completed a $2 million renovation and modernization of the former Glens Falls Post Office on Warren Street, turning it into professional office space. The building was originally erected in 1915 and had been earmarked for demolition. Hoffman said it is an “absolutely amazing” building, adding that he has rehabbed more than a dozen older buildings and “this one is the most amazing building that we have done.”

Work began on the post office in May.Hoffman said it is ready for rental, with several interested potential tenants. He said that he expects there to be about 45 people working there within the next six months, which he calls a “big ripple in a little pond.” An additional influx of business and consumers will make a big difference in the local community.

For Residential Real Estate Agents, Markets Remain Stable While New Challenges Arise

October 11, 2018October 11, 2018

Ted Wilson, owner, All -American Properties, with offices in Glens Falls and Chestertown.
Courtesy Ted Wilson

By Maureen Werther

For Warren and Washington counties, the real estate news is mostly good, according to Ted Wilson, owner of All -American Properties with offices in Glens Falls and Chestertown.

Wilson and his team of 22 agents have seen markets at their worst, their best and somewhere in between. He described the current residential market as “stable,” noting that the statistics from 2017 and 2018 are pretty similar. It could also be called a “flat” market, but Wilson is quick to point that he would rather have a stable market over one that is in decline.

For years, interest rates were a strong determinant for people contemplating entering the real estate market. Wilson said that rates have remained low for so long and they are no longer the determining factor they used to be.

“Nobody even seems to think of them anymore,” he said. Unless they rise, which some indicators are pointing to for the future. However, the bygone days of 8, 9 and even 10 percent interest rates are dim memories for most home buyers, with first-time buyers having no experience with higher rates.

Business Report: Tips For Negotiating Commercial Leases

October 11, 2018October 11, 2018

Jennifer Tysn is a business law attorney with Bond Schoeneck & King.

BY JENNIFER TSYN

Whether your business is just starting up, expanding or relocating, a key concern for most businesses is finding the right space. That process can be fraught with difficulties, especially when it comes to negotiating the lease.

Most landlords will present prospective tenants with a draft lease that is very favorable to the landlord. This means that when negotiating with the landlord, it is easy for tenants to overlook issues that may cause problems in the future.

Here are some of the key issues a new tenant should consider when reviewing a draft lease for commercial space include:

What are the “premises” and how can you use the space?

The space that is being leased should be defined clearly. If the lease references square feet, make sure it is clear whether rentable square feet or usable square feet are being discussed. Additionally, you will want to be clear about when, and how, you and your employees or customers can use common areas of the building, such as hallways and common restrooms, as well as parking areas. The lease should also specify who is responsible for cleaning, maintaining and making repairs to these areas.

Business Report: Insights For Commercial Properties

October 11, 2018October 11, 2018

Alfred Testa, vice president and senior commercial banking relationship manager, NBT Bank.

By Alfred Testa

Regardless of whether commercial property owners have one or multiple properties, are looking to acquire new property, or renovate or develop new space, financing is always an integral part of the process.

In Glens Falls, old spaces are becoming new again as a resurgence in millennials is driving new demand. In Saratoga Springs, continued growth downtown is bringing more residential development and mixed-use spaces.

Whether your focus is on multi-family housing, self-storage, mixed-used properties, office space or retail, the opportunities for commercial property acquisition remain strong. But without a good relationship with a commercial banker, getting through the process can be very challenging.

Taking time to ask questions up front could help you avoid three of the most common frustrations when it comes to commercial financing.

Local offices and local lenders

It’s important to have a banking partner that understands the market and can move through the process quickly, whether funding at closing or construction over time. Locally, NBT Bank believes a reasonable expectation is to be able to meet within a few days of the commercial property owner’s outreach to a loan officer. After that initial meeting, the application process begins, followed by bank underwriting, and ultimately a commitment letter once the bank approves the loan.

Susan Porlier Turns A Love For Animals Into Successful Dog Daycare, Boarding Business

October 11, 2018October 11, 2018

Susan Porlier operates Bellyrubs Doggie Daycare sites in Hudson Falls and Gansevoort.

BY JENNIFER FARNSWORTH

For Susan Porlier, finding success has come with doing what she loves to do. She always knew she loved animals, so she found a way to make a living n that field.

Now, it’s been over a decade since she first opened Bellyrubs Doggie Daycare and her passion for dogs is still fueling her success. She has two sites, at 44 Feeder St. in Hudson Falls and 1089 Saratoga Road, Gansevoort.

“I have been in business for 13 1/2 years. I now have two locations and 14 employees. I never in my wildest dreams thought my idea of a doggie daycare and boarding facility would take off like it did. We also do dog grooming and training,” Porlier said.

Porlier said she always looked after family pets. She came to a point in her life where she decided to give up her career in the medical field and pursue her dream of opening her own daycare and boarding facility.

“I never knew what I wanted to be when I grew up. I never went to college. I have always loved animals, so when I came up with this idea, I finally knew what I wanted to do for the rest of my life. I am truly blessed,” said Porlier.