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'''Forrestal Village''' is a 720,000 square foot, 52 acre [[mixed-use]] retail and office complex in [[Princeton, New Jersey]] along [[U.S. Route 1|Route 1]]. It is just north of [[Princeton University]]'s Forrestal campus, whose name it is derived from. The center is anchored by Can Do Fitness (an upscale chain of fitness centers in the northeast) and a [[Westin]] hotel. In recent years, it has suffered a sharp decline, turning into a [[dead mall]]. Renovations and rebranding as an "office" complex are underway to bring customers back. The center has spawned some development in the area, including an adjacant office complex and several apartment and condo communities, including Princeton Windrows, which is right across the street. |
'''Forrestal Village''' is a 720,000 square foot, 52 acre [[mixed-use]] retail and office complex in [[Princeton, New Jersey]] along [[U.S. Route 1 in New Jersey|Route 1]]. It is just north of [[Princeton University]]'s Forrestal campus, whose name it is derived from. The center is anchored by Can Do Fitness (an upscale chain of fitness centers in the northeast) and a [[Westin]] hotel. In recent years, it has suffered a sharp decline, turning into a [[dead mall]]. Renovations and rebranding as an "office" complex are underway to bring customers back. The center has spawned some development in the area, including an adjacant office complex and several apartment and condo communities, including Princeton Windrows, which is right across the street. |
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==History and Decline== |
==History and Decline== |
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Revision as of 17:21, 2 June 2009
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| Location | Princeton, New Jersey, USA |
|---|---|
| Opening date | 1986 |
| Developer | Toombs Development Company |
| Management | Gale Real Estate Services Company |
| Total retail floor area | 720,000ft² |
| No. of floors | 2 |
| Parking | Surface Lot and Parking Garage |
| Website | PrincetonForrestalVillage.com |
Forrestal Village is a 720,000 square foot, 52 acre mixed-use retail and office complex in Princeton, New Jersey along Route 1. It is just north of Princeton University's Forrestal campus, whose name it is derived from. The center is anchored by Can Do Fitness (an upscale chain of fitness centers in the northeast) and a Westin hotel. In recent years, it has suffered a sharp decline, turning into a dead mall. Renovations and rebranding as an "office" complex are underway to bring customers back. The center has spawned some development in the area, including an adjacant office complex and several apartment and condo communities, including Princeton Windrows, which is right across the street.
History and Decline
Princeton Forrestal Village broke ground in 1986 on land leased from Princeton University, at Route 1 and College Farm Road. A cloverleaf interchange was completed at the intersection to ease the congestion of the then-planned center. The center's developer ultimately paid for the intersection after a two year battle against the Robert Wood Johnson Foundation.[1]
Designed by Sasaki Associates of Watertown, Mass., and Bower Lewis Thrower/Architects of Philadelphia, the initial goal of the center was to "Create a retail mix that will not just bring people in every few weeks like the regional malls do". [2]
When it opened, it contained nightclubs, several restaurants, a 300-room Marriott hotel, an indoor food court, and many upscale stores, all set up in an open-air Main Street-style village area. [3] To lure "everyday" shoppers, a barbershop, a tailor and custom shirt shop, a shoe repair establishment, an express mail operation and a video rental store were also opened.
Since the area was surrounded by competitors, such as downtown Princeton , Palmer Square, and the Quaker Bridge Mall, it wasn't as successful as planned. As many of the upscale tenants moved out, the owners brought in Outlet stores and the Forrestal Village became an Outlet mall. The concept was successful up until about the late 90's, when the mall became almost empty.
Revitalization
By the late 90's, the center was almost dead. Some changes were made, including the opening of the Tre Piani restaurant and a new office building on the site.
In 2003, the owners, The Praedium Group, sold the center for $39.6 million to the Gale Company. [4] In 2007, the mall rebranded itself as mainly an office and professional complex with some retail stores, mainly for the office workers. By that time, the Marriott, which moved across Route 1 to the site of the former Scanticon Hotel, was replaced with a Westin. The first change was the Can Do Fitness, which opened up in the 60,000 square foot "Market Hall" building, which includes a Koi Spa, physical therapy center, nail salon, and other small retail stores inside. Also, Luxe Home, a furnshings store, relocated to the center from Princeton's Palmer Square.
Several restaurants, such as the Salt Creek Grille and Ruth's Chris Steak House have also opened. The food court, which was relocated from the Market Hall to an area in the main retail area, only has two current tenants, Subway and Teryaki Boy. Most of the other tenants in the retail spaces are offices and services.
Current Tenants
| A.G. Edwards/Wachovia Securities LLC | Koamtac Inc | |
| AARP | LUXE Home | |
| Adecco | Maloy Risk | |
| AIG Investments | Mariner Investment | |
| Ajilon | Model N | |
| AllenPort | Monday Morning Flowers | |
| Allstate NOTO Insurance | NAFA | |
| APEX Group Holdings Inc | NCS Pearson | |
| Apple One | NERC | |
| Beacon Management | Oxford Princeton Programme | |
| Beauty Land BLC | Patient Marketing Group | |
| Bonworth | Piazza & Associates Inc | |
| Calico Homes | PLC | |
| Cando Fitness Center | Pride Tech | |
| Charter Private | Princeton Art Gallery | |
| China Chen Village Grille | Prineton Dance & Theater Studio | |
| Clear Horizons Inc | Princeton Partners | |
| Cody Eckert & Associates | Princeton Partners Health | |
| Comag Marketing Group CMG | Qugen | |
| Custom Strategy Consulting | Randstad North America L.P. | |
| David Lerner Associates | Reed, Smith, LLC | |
| Dennigan Cahill | ReMax Greater Princeton | |
| Digital Group | Right Management | |
| Directravel | Ruth's Chris Steak House | |
| Document Depot | Salt Creek Grille | |
| ECHL | Shawnee Chemical | |
| Edible Arrangements | Silver Shop | |
| Ergonomic Group | Skura Ltd. | |
| Exquisite Bride | Sovereign Investments | |
| Foxcom | Staffing Now | |
| Gallagher, Broidy, & Butler | Subway | |
| Gymboree | Tapestry | |
| Harmony School | Teachers Insurance & Aunnuity/ TAII-CREF | |
| Hearx | Teryaki Boy | |
| Hip 2 | The Thomas Group | |
| Hollyrock Miller | Tre Piani Restaurant | |
| HQ Global Workplaces-Regus | Toscano, Clemens, Taylor/Thomas Grp. | |
| IFS | Valentino's | |
| Incremental Advantage | Village Convenience Store | |
| Koerner Walker | Westin Hotel | |
| - | William Gallagher Associates |
References
- ^ Road-Improvement Dispute Impairs Forrestal Complex - New York Times
- ^ ABOUT REAL ESTATE; FIRST 30 TENANTS ARE SET AT RETAIL CENTER IN JERSEY - New York Times
- ^ Dead Malls dot Com: Feature: Princeton Forrestal Village: Princeton, New Jersey
- ^ Princeton complex fetches $39.6m - Princeton Forrestal Village - Brief Article | Real Estate Weekly | Find Articles at BNET.com