MarketFair's $7 million renewal

Mercer Business, May 01, 1998

In June of 1997, MarketFair, the specialty center located on Route 1 in West Windsor, formally announced it had dropped the "Princeton" moniker which had preceded its name since opening in 1987.

This was only the beginning to what is one of the most dynamic periods of change for the ten year old shopping center.

At the same time, MarketFair kicked off a $7 million renewal program. The renewal was designed to upgrade the center's infrastructure and freshen the interior public space, add a new food court, renovate sections of the United Artists Theater complex, and usher in important new "lifestyle" retailers. It was a significant investment, but one management determined was necessary. Consumer trends pointed to the need for shopping opportunities which promoted a healthy and high quality lifestyle.

Consumers were yearning for shopping experiences which supported all areas of contemporary living--quality entertainment, healthful dining and cooking, first-rate accessories and furnishings for home and garden. But they demanded more than just products. They wanted stores that educated in addition to delivering high quality products. MarketFair resolved to fill this need.

To do so, the center determined it needed to evolve its retailer mix so it better addressed the trend. This meant saying goodbye to select retailers, some of which had been with the center for much of its history. First to exit was one of the two anchor stores, Oshman's Super Sports USA. MarketFair negotiated the early termination of the store's lease. Also departing were The Limited, Structure and Candico.

Another major component of the repositioning was the upgrading of the United Artists theater complex. The entertainment giant began preparing for a comprehensive overhaul of its theaters including a change to stadium seating. The lobby area and box office were to be renovated first, with stadium seating added later. The addition of more theaters is being explored.

MarketFair also launched plans for a new and consolidated Food Court and hired Princeton-based architects Ron Berlin and Max Hayden to design the space.

In March, 1998, MarketFair announced that some of the nation's top retailers had endorsed the renewal and repositioning of MarketFair by joining the specialty center's retail line up. The announcement was made at a well-attended press conference and luncheon held on March 2 at the center. Many of the new stores sent personnel to speak to the press about their unique merchandising concepts while demonstrating the products.

The new stores include Smith & Hawken, the leading garden supply company; Restoration Hardware, the specialty home furnishings store and Pottery Barn which is launching a major new store in the center in the Fall. The new, much larger Pottery Barn will replace the current store on Route 27 and will feature the new "design studio" concept, offering both wider range of merchandise and a design studio where customers can tailor their selections of furniture, fabrics, window treatments and floor coverings.

The center also announced that three existing stores were expanding their presence at MarketFair by Spring. Williams-Sonoma is to move to larger space and introduce its Grande Cuisine concept which includes space for professional cooking demonstrations, a cookbook book library and a tasting bar where shoppers can sample specialty foods. Eastern Mountain Sports, the outdoor clothing and sporting goods retailer will expand to new quarters and Brookstone will move to a larger space, redesigned to showcase its innovative merchandise for home, travel, and fitness.

MarketFair also announced at the press conference that it is investing $1.6 million in a stylish new Food Court, appropriately named Market Fare, which will feature seven restaurants offering new, contemporary and healthful dining choices. The Food Court will open in the Spring. Among the new dining options: The Americana Grille which will offer grilled specialties from beef and veggie burgers to steak, chicken and fish, Greenstreet Cafe offering an array of salads, La Festa featuring Italian specialties, Pizza Bene which will provide varied and delicious pies, Bassett's Original Turkey (already a favorite in upscale malls in the Philadelphia area) will offer "fast food that's good for you" with home-style healthful cooking based on an American classic--turkey, and the popular Japanese restaurant, Teriyaki Boy, will move into the new Food Court.

The new stores and restaurants will position MarketFair as the leading source for every element of an exciting and fulfilling lifestyle for home, dining, garden, sports, entertainment and fashion.

"We have targeted those shoppers who are looking to enhance their overall lifestyle," says Matthew Klutznick, MarketFair's general manager and the person responsible for the center's renovations and new retail line-up. "Our customers thrive on learning about new trends in cooking and cuisine, enjoy creative gardening, and are looking to enhance their homes and their lives to the fullest."