As hills go, Greenwich Avenue is in the elite company of global rises boasting “well worth the climb.”
Despite dismal weather, the Greenwich retail scene ”“ Greenwich Avenue and shops in all directions from there ”“ features optimistic retailers with hopes for the spring and summer seasons. New destination shops have helped to keep parking spaces full.
A lonely asterisk is being posted by the retail real estate market, which has hit a flat note.
“The weather has not been very cooperative this past month, especially for the avenue, which is so tied to a foot traffic style of retail,” said Thomas Ascenzi, general manager at the Sundown Saloon. “It”™s still earlier in the year, and nice weather helps for things like after-work customers.” Still, he said, “The economy is definitely not as weak as it was.”
Ascenzi said despite the stutter start to the season, he is optimistic about the warmer months of 2011 showing some positive growth over the past two years.
Sonia Sotire Malloy, owner of Splurge, which in the fall moved its store to 39 Lewis Street in Greenwich, said she is very happy finally to start to see the spring weather and crowds that were expected weeks ago.
“The sun is out and that means people are out,” said Malloy. “The winter months after the holidays are always tough, but especially this year with so many storms and bad weather a lot of people were not able to get out or had school closures to deal with. It really complicated things in terms of business.”
Malloy said that although the early months of the year were hard, she is experiencing what she termed “strong double digit growth.” She attributes her business growth to her relocation and expanded space.
“My general sense is that things are picking up on the avenue,” said Malloy. “Parking spaces are filling up to capacity during the weeks and that”™s a great sign.”
Malloy said Greenwich”™s newest major retail addition, Urban Outfitters on downtown”™s East Elm Street, is driving a lot of first-time shoppers to the town. The Philadelphia-headquartered store sells clothing and specialty items associated with hip and urban popular culture. The closest locations to Greenwich are at the Yale campus and in Manhattan.
“That is a place that people will travel to from over a half-hour away,” said Malloy. “That helps to bring a really interesting energy here.
“Those are the kinds of stores that we”™d like to see more of, not necessarily one of a kind,” she said, “but specialty stores that draw people to town.”
Malloy said the addition of Sweet Teez Candy Shoppe, Togs, a New Canaan-based clothing retailer, and Calypso St. Barth, a boutique clothing company, are all part of the new energy on the avenue.
“They are the kind of stores that really influence their neighbors in a good way,” said Malloy.
Ron Brien, director of commercial leasing for MH Heaven Real Estate L.L.C. in Greenwich, said the retail real estate market on the avenue isn”™t quite as optimistic as its retailers.
“You”™re seeing a lot of people feeling as if the Greenwich Avenue is not quite as progressive as we thought it would be by this time,” said Brien. “It”™s April now and everything is a bit flat. The winter was fairly slow, but January and February showed a pick up, but that leveled off.”
Brien said the demand for space was better six months ago, but was worse a year ago. He said of what demand there is for space, the majority is for 1,800 square feet and down.
Diane Garrett, owner of DianeӪs Books said that, as a fellow independent business owner on Greenwich Avenue, the M̩li-M̩lo expansion has been great to watch. In March the M̩li-M̩lo Cr̩perie, a French luncheonette-style restaurant, expanded its space to three times its original size.
“It”™s interesting that we independents are now thriving,” said Garrett. Garrett said there has been a revitalization and renewal in Greenwich for an appreciation of the true-blue independent business owners.
“In Greenwich, retail experience is still key; it boils down to that,” said Garrett. “I will not do anything other than be a book seller. We do it one book at a time and it works. It”™s an old fashioned business philosophy, but having a strong and unwavering focus is very important and creates loyal customers.”
