Madison-based Park Towne Corp. is developing an 8,100-square-foot retail center at 420 Gammon Place across from West Towne Mall.

Demolition began Friday on the existing building, which originally was built for a TGI Fridays restaurant, with construction to start next week. The new center’s anchor tenant will be Wells Fargo bank, with space for three to four other tenants yet to be filled, Park Towne’s Mike Ring said.

The TGI Fridays closed in 2006, with subsequent restaurants opening and closing in the location since then. The building dated to the mid-1980s, and also was developed by Park Towne.

The Madison Plan Commission approved the current project in July. Ring said he expected building construction would be finished by the end of March, barring any weather delays. Engineered Construction of Verona is the project contractor and Gary Brink & Associates is the architect.

Previous Madison redevelopments completed by Park Towne include Town Center Square, a 30,000-square-foot retail and office building in the 6800 block of Odana Road and the West Side building where Jared’s Galleria of Jewelry is located, at 505 S. Gammon Road.