TROY — While the majority of the space in the Sherwood Shopping Center is vacant, the owners are actively seeking business owners to fill the store fronts in the 900 block of North Market Street.
Marsh Supermarkets remains the only active business in the shopping center. The Movies 5 theater closed for business on Aug. 10, 2014.
Director of public service and safety Patrick Titterington said, “We are not aware of any specific future plans at this time. If there’s a lawsuit, it’s civil and we’re not a party to that. We have written the owners up for various interior and exterior property maintenance issues and that’s the work that’s being done.”
The owners of 900 North Market LLC, located in Mineola, N.Y., were cited for multiple zoning violations last April. Issues included peeling paint, rusty entry doors, damaged gutters, roof leaks and asphalt. The owners have since been working with the city of Troy and local contractors to address the repairs. The city gave the company 30 days to comply with all the zoning violations in April. Another city letter dated Aug. 11 stated the company had not addressed the majority of the issues.
Eileen Conn, a secretary with the New York company who owns the building, said most of the issues stemmed from a bad property management company. This week, she said local contractors are working hard to get the building cleaned up to be repaired. Conn said work will begin to repair the roof and address the other zoning violations shortly.
Conn said there has been multiple parties interested in leasing the building and they are working hard to fill the spaces. Possible lessors expressing interest include a gym, a pharmacy and another pizza restaurant, Conn said.
According to the city’s zoning report, a fire inspection is schedule for next week.
According to court records, 900 North Market LLC, filed a civil lawsuit against Sherwood Theaters Inc. and owner Alan Teicher, of Sun City, Fla., for $192,148 in owed lease payments plus 5 percent interest, plus court costs, attorney fees and other relief in June. The civil suit states the movie theater did not fulfill its lease obligations and abandoned the property.
In a letter to the attorney who is representing 900 North Market Street LLC, Teicher said the theater closed because of the expense to upgrade the theater’s sound system and convert to digital projection, which he claimed costs $40,000 to $60,000 per auditorium.
Teicher said the theater opted not to perform the upgrades “due to the condition of the Sherwood Shopping Center and its history of not keeping the stores rented” and closed its doors.
Teicher stated the company no longer had any bank accounts, an attorney or means of income. The letter states the Movies 5 company left all the concession stand materials, projection equipment and $500,000 in other equipment and assests to cover any outstanding rents and to make it easier for the property owners to lease the theater.
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