Maybe it’s not accurate to call Tim Sears a fresh face. Refreshed face might be a better term. Sears, 55, returns to Hartford after a 13-year stint with the Rite Aid Corp. as its real estate director for the upstate New York and New England markets. He’s now vice president of retail development for Centerplan Development Co. in Hartford.
“It’s like déjà vu all over again,” said Sears, recalling how he worked at Statehouse Square when the Old State House was being renovated in the early to mid-90s. “I got to watch the whole thing,” he said, adding that the city has changed a lot in the ensuing years.
“Everything is cyclical. [Downtown] got pretty depressing. But now, looking around, there are a lot of new restaurants and changes. It’s in good shape. It’s the state capital. The state government is not going out of business.”
Sears has been in corporate and retail real estate since 1982. He counts among his accomplishments the opening of the first Jiffy Lube on Queen Street in Southington that he proudly notes is still open. He was also involved in openings for Boston Market and Wendy’s.
His career in Greater Hartford began at Northeast Savings Bank, which later became Shawmut Bank. “I was basically the real estate department,” Sears said.
His first project at Rite Aid in 1995 actually lead him to his current employment. The engineer on that project was Bob Landino of BL Co. Rite Aid would develop an exclusive engineering relationship with BL Co., as well as making Landino a preferred developer. When Landino sold his company to his employees in 2006, he launched Centerplan Development. Fast forward two years and Sears is working for Landino’s new firm.
Sears said it was a good time for him to move beyond opening new drug stores. “The opportunities to join companies like these are few and far between,” he said. Previous work with Centerplan’s staff also smoothed Sears’ transition. “It was an easy adjustment,” he said.
Contrary to what one might think, this isn’t necessarily a bad time to be in retail development. Sears concedes the financing picture is tough, but there are opportunities for companies who have patience and the liquidity and experience to capitalize on the current market.
