Town hires new Economic Development Manager
As a high tenant vacancy rate persists at Windsor’s Lakewood Shopping Center and Lakewood Village, town officials say a new economic development manager may help strengthen the relationship with overseeing corporation Kimco Realty.
Currently, 13 store fronts across the two properties remain empty, a number lower than figures reported in the past, but enough to cast a shadow over Windsor’s continued economic development.
“It certainly impacts shopping opportunities and gives the impression that we’re somehow lacking and somehow we’re not able to bring in and keep viable businesses here,” said Town Manager Linda Kelly. “But I think it’s up to the property owners to come to terms with potential tenants.”
Kimco Realty Corp., which is headquartered in New York State, describes itself on its website as a real estate investment trust that owns and operates North America’s largest publicly traded portfolio of neighborhood and community shopping centers. With a presence in 814 shopping centers across 41 states, as well as Puerto Rico, Canada, Mexico and South America, concern remains that filling vacancies in Windsor is hardly a priority for the corporation.
“It feels some times that it’s like a line item on their book,” said Christine Tevini, who is the CEO and president of Windsor’s Chamber of Commerce. “They’re not here. They don’t see what the vacancies do to our community because they don’t live in our community… It doesn’t impact them like it impacts us.”
David Bujnicki, who is the vice president of investor relations and corporate communications with Kimco, said that they are working hard to attract tenants to the locations, and mentioned a program the corporation has developed geared to startup entrepreneurs and first-time business owners, called the KEYS program.
“We may be a national company,” he said, “but we operate on a local level. It’s clearly in our interest to get somebody in there and paying rent.”
Yet Windsor resident Tom Lawrence, who works with Wine Country Group Realtors and previously led a now-dissolved task force for economic development in WIndsor, said the vacancies likely began after Kimco acquired the area in 2006.
According to Lawrence, two meetings that the economic development task force held with Kimco were not, in his opinion, successful. “I think we were paid lip service,” he said.
Meanwhile, he said high rents and a preference for standardized, “formula-based businesses” explain why Lakewood’s tenant profile resembles a revolving door.
“Kimco’s rents have notoriously been too high. Kimco’s management has been less than desirable. Kimco’s reluctance to allow small business people locally has discouraged a lot of people I think,” Lawrence said.
According to Kelly, the Town is working to refer potential tenants to Kimco, and has expressed willingness to work in collaboration with them.
“I think our relationship is fine,” she said. “We’ve met with them a couple of times since I’ve been here. We’ve requested meetings and tried to open up communication.”
Community Development Director Ned Thomas said that the Town regularly approaches Kimco on behalf of tenants with such issues as safety-related concerns. Through developing contacts within Kimco, the Town has been able to assist businesses interested in leasing space, but who have struggled to get in touch with the company themselves.
“There seems to be perhaps a little bit less attention given to Windsor,” Thomas said. For a time, limited staff resources have prevented further action.
On Nov. 17, Robert Ramirez, previously of the city of Concord, stepped into the position of economic development manager, which had been vacant since January. According to Thomas, working through the relationship with Kimco will become one of Ramirez’ top priorities.
Thomas also noted that new businesses are moving into the area, including New Zealand-style BurtoNZ Bakery and a restaurant named Latitude, both of which will be located near Safeway. A spa and drive-through Starbucks are also planned to open.
Bobbi Burton of upcoming BurtoNZ Bakery said that the Town aided her and her husband Warren in acquiring a lease with Kimco. “From the time of the initial letter of intent until the time we got the keys seemed like an unusually long process for us,” she said.
Since becoming a tenant, Burton said that Kimco has proved communicative and accommodating to their needs.
For Bujnicki, the vacancies at the Lakewood properties can be attributed to a post-Recession struggle for small businesses at large.
Tevini agrees that this may account for some of the vacancies. “But I think that now, more than ever, there are so many opportunities,” she said. “It appears that it could be as good a time as any to open a small business.”
