Westport awaits economic turnaround
Amid the longtime and recently established retailers in Westport”™s downtown, empty storefronts still dot Main Street.
Mel Mioli, who has owned Westport Pizzeria on Main Street for 42 years and has sold slices to the likes of Paul Newman and other celebrities, blames it on rental costs.
“Landlords don”™t want to come down with the rents. I pay a big rent,” Mioli said. “I”™m one of the few doing well” along Main Street. Come 5 o”™clock though, Mioli said the street is dead. He said there needs to be more variety.
The street in years past had a drugstore, butcher shop, 5-and-dime and a bookstore.
A lifelong Westporter, First Selectman Gordon Joseloff has watched the retail district”™s evolution from mostly archetypical town shops, to the national retailers that dominate the larger spaces today. Around the corner on East Post Road was a movie theater that Joseloff”™s grandfather had built. The bank building across from the former theater now houses a Patagonia shop.
Mioli said a return of those old establishments would be welcome. He even suggested a few more restaurants to draw people at night.
Main Street is now a mix of national retail outlets, small mom and pops and the empty storefronts.
“I am certainly not an expert on retailing, but from a perspective of trying to liven up Westport”™s downtown, we certainly could use more restaurants and maybe a bookstore, like Remarkable Books, which was a Main Street mainstay for many years,” Joseloff said. “But given the rents landlords are asking that”™s a tall order.”
There”™s talk of a new tenant to fill an empty building next to Mioli”™s pizzeria.
“There are deals about to be announced at two of our Main Street locations,” said Dominick Musilli of Rhys Commercial Real Estate. Rhys represents 115 and 125 Main St. Musilli promises an exciting new tenant.
“That deal is going to be a big buzz,” he said. Musilli would not say anymore until the deal was officially announced.
The majority of street-level retail properties in the downtown are represented by Rhys, HK Group and Marc Nevas Real Estate.
The Rhys-represented locations account for half of the empty storefronts now on the retail section of Main Street in Westport. Included in those stores was the recently opened Brooks Brothers girl”™s store Fleece, at 136 Main St., next to the established Brooks Brothers store. The store is the Manhattan-based retailer”™s first featuring young girls”™ apparel.
“We have had some long-term vacancies on the street but they don”™t seem to be growing appreciably, thank goodness,” Joseloff said. “I know of several retailers who say things are definitely better this summer than last. Not gangbusters or a return to the good times of several years ago, but better than they have been.”
Musilli said the number of inquiries that Rhys has gotten has gone up dramatically. There seems to be pent up demand for retail space on Main Street,” Musilli said. “There has definitely been a turnaround in mindset in the last few months.”
Harvey Skolnick agrees. He is the owner of Liquor Locker and has been on Main Street for 40 years.
“It”™s looking up. It”™s better than what it was,” Skolnick said.
“There”™s more foot traffic on the street since the market has come up. And more people are buying higher-priced wines,” in the $150 to $200 range, he said.
Around the corner on East Post Road, which has less foot traffic, retail space is being actively inquired about, Musilli said. It”™s the national brands that are looking, he said, because they realize the rents have bottomed. Musilli wouldn”™t give names but said other national retailers will be coming to the area over the next year.
Among the most recent vacancies in Westport is Sukrans Bridal and Tuxedo, which moved to Westport Avenue in Norwalk.
All About Image has filled a prime street location along the river view portion of Post Road in Westport. The store replaced another clothing seller, Knoyzz Clothing. New owner Nicholas DiBattista aims to carry fashion merchandise.
The Sigrid Olsen store, which opened in 2004 at 103 Main St., has remained vacant since 2008, with no real estate inquiry sign affixed to its window.
“The mindset is definitely different than last year,” said David Lindland, vice president at HK Group commercial real estate in Westport. “The one thing that everyone is doing if they”™re near the end of their lease term is they”™re going to their landlord and saying, ”˜What can you do for me?”™”
Lindland said in Westport that applies to mostly single-business tenants ”“ those on the sidewalk as well as in the second-floor offices.
“It”™s the small guys that have been struggling with their cash flow that are really looking at the numbers,” Lindland said.
Many tenants are looking for other deals in town, he said, wanting to trade addresses rather than ZIP codes.
Lindland also said he has seen developers looking for deals to develop vacant properties. “They know eventually tenants come back,” he said. “There are still deals out there to develop land after tenants leave and the new buyer can afford to sit out the rest of the turmoil.”
Lindland said businesses whose leases are up, typically those made in Ӫ03, Ӫ04, and Ӫ05, are downsizing their space but upgrading the quality of the space by changing out carpets for hardwood floors, and updating other d̩cor, lighting and furniture, among other things.
“There”™s a lot of jostling around going on,” Lindland said. “Before going to the landlord, the key is to identify two other locations that you”™d be comfortable moving into and ready to move if you”™re really serious.”
Lee Papageorge, owner of longtime Main Street fixture Oscar”™s Delicatessen, said he is doing well and attributes a busy summer to the heat. With more people going to nearby Compo Beach and Sherwood Island State Park, sandwiches were a necessity for the beach-goers.
Assessing Westport”™s business climate, Papageorge said, “All in all, our small town is doing well.”
“New places have opened, but it takes time to catch on. There”™s plenty of business for everyone.”