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<item><title>New York Times does an article on PF Village.</title><description><![CDATA[ <H1>Malls in New Jersey Plan to Survive Bad Economy </NYT_HEADLINE></H1>
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<DIV class=credit>Laura Pedrick for The New York Times</DIV>
<P class=caption>The new owners of the mall have spent $8 million on repairs, upgrades and recruiting of upscale shops and services. </P></DIV>
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<DIV class=byline>By ANTOINETTE MARTIN</DIV></NYT_BYLINE>
<DIV class=timestamp>Published: November 11, 2008 </DIV>
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<P>In <A title="More news and information about New Jersey." href="http://topics.nytimes.com/top/news/national/usstatesterritoriesandpossessions/newjersey/index.html?inline=nyt-geo"><FONT color=#004276>New Jersey</FONT></A> — home to more malls per square mile than any other state — retail centers appear to be uniformly braced for a hard holiday season to come. But those in the midst of opening or upgrading are adopting a wide variety of survival postures.</P>
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<H4><A href="javascript:pop_me_up2( http://www.nytimes.com/imagepages/2008/11/12/business/12mallinline_ready.html ,  12mallinline_ready ,  width=405,height=600,scrollbars=yes,toolbars=no,resizable=yes )"><FONT color=#004276><IMG height=284 alt="" src="http://graphics8.nytimes.com/images/2008/11/12/business/12mall190.jpg" width=190 border=0> </FONT></A></H4></DIV>
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<DIV class=credit>Laura Pedrick for The New York Times</DIV>
<P class=caption>Princeton Forrestal Village in Plainsboro, N.J., which has a built-in market of office workers, offers a Can Do fitness center. </P></DIV></DIV></DIV><A name=secondParagraph></A>
<P>Xanadu, a $2 billion shopping and entertainment center rising in the Meadowlands, simply went to duck-and-cover mode; its planned opening this month was pushed back to next summer. </P>
<P>But other malls are proceeding to open, or reintroduce themselves, as a recession unfolds. Their owners and operators are straining to find the best strategy to lure consumers who are themselves increasingly hard pressed — or at least to find ways to justify the plans they settled on before the economic outlook turned dark.</P>
<P>“Our timing could be better,” acknowledged Scott Loventhal of Garden Commercial Properties, “but it is not terrible.” His Short Hills-based company is opening three malls in the state over the next few months. </P>
<P>“We have not yet seen any regional malls get into dangerous waters,” he said, “because New Jersey has yet to be victimized by any large-scale department store anchors going out of business.” </P>
<P>It is true, he said, that “the mom-and-pop operations, any small franchise tenants, are simply deer in headlights right now. Maybe they’re holding their own at an existing location, but they’re not going to be expanding at this time.”</P>
<P>But Garden Commercial, which owns and manages more than 25 million square feet of retail space, primarily in New Jersey and elsewhere in the Northeast, so far has been lucky to have only one of its mainstay midsize tenants — Linens ‘n Things — enter into bankruptcy protection.</P>
<P>The company’s new malls in Raritan, Linden and Edison will be anchored with a <A title="More information about Wal-Mart Stores Inc" href="http://topics.nytimes.com/top/news/business/companies/wal_mart_stores_inc/index.html?inline=nyt-org"><FONT color=#004276>Wal-Mart</FONT></A> or a Lowe’s Home Improvement Center — or both — to draw shoppers in large numbers. “In these difficult times, people are looking for value,” Mr. Loventhal said, and those two chains are still doing strong business.</P>
<P>The coming holiday season is expected to generate the lowest sales per square foot of store space since the recession of the 1980s, according to Mr. Loventhal. He, like other retail developers, referred to the overall retail market as “fragile.” But he said that it was possible to open new shopping centers at this time and have them succeed.</P>
<P>One trend that is helping, Mr. Loventhal said, involves providing malls with attached or adjacent commercial and office space. Tenant turnover is usually less rapid in offices than in retail centers, he said, and nearby stores and restaurants are considered a desirable amenity for office workers, thus raising lease values for both classes of property. </P>
<P>At Raritan Town Square, a 500,000-square-foot complex being built in Hunterdon County, the space is divided among stores, restaurants and office space. The first stores and restaurants at the center opened last month, including a Lowe’s and a LongHorn Steakhouse. Construction is under way on a 145,000-square-foot Wal-Mart.</P>
<P>Mixed uses are also part of the survival strategy at Princeton Forrestal Village in Plainsboro, although in this case the owners (Gale Real Estate) and managers (Levin Management) are determinedly sticking to their plan of creating an upscale niche.</P>
<P>Princeton Forrestal began in 1986 as an upscale mixed-use shopping center — pioneering for its time — with nightclubs and “lifestyle” services like a tailor, shoe-repair shop and express mail shipping service, in addition to designer clothing stores, an office building and a hotel. The retail part of the complex, which is off Route 1, was unsuccessful from the outset, though, and quickly evolved into an outlet center.</P>
<P>By the late 1990s, that type of retailing was not attracting crowds, either. In fact, shop space was mostly empty in 2003 when Gale bought Princeton Forrestal with the intention of refurbishing the entire property and taking its retail offerings back to upscale.</P>
<P>Over the last four years, Gale invested $8 million in repairs, upgrades and tenant recruitment efforts. It is now poised to take full advantage of this holiday season, whatever it brings, the developers said.</P>
<P>The level of affluence in the Princeton area makes the upscaling effort a sensible long-term plan, Matthew Harding, the president of Levin, said. He also pointed to a built-in market among office workers on site at the mall, and others who work in medical offices and corporate buildings along Route 1.</P>
<P>The Westin Hotel and Conference Center, adjacent to the shops, draws 600,000 visitors a year; about 1,400 a week are overnight guests. The restaurant space at the Westin was recently remodeled to create conference space, as two new upscale chain restaurants were added to the mall. Another, Tre Piani, which bills itself as part of the ecologically sensitive “slow food” movement, opened shortly after the sale to Gale. </P>
<P>Shoppers and hotel guests will continue to seek “lifestyle” services at Princeton Forrestal, said Fred Knapp, an asset manager with Gale, which is a division of <A title="More information about Mack-Cali Realty Corporation" href="http://topics.nytimes.com/top/news/business/companies/mack-cali-realty-corporation/index.html?inline=nyt-org"><FONT color=#004276>Mack-Cali Realty</FONT></A>. </P>
<P>A Can Do fitness center and an adjacent Koi spa — both are high-end Northeastern franchises — as well as the restaurants are drawing steady traffic to Princeton Forrestal, according to Mr. Knapp and Mr. Harding.</P>
<P>A Salt Creek Grille restaurant, built at the Route 1 edge of the mall, also gives it a prominent new “face” on the heavily traveled roadway, Mr. Harding said. <A title="More information about Ruths Hospitality Group Inc." href="http://topics.nytimes.com/top/news/business/companies/ruths-chris-steak-house-inc/index.html?inline=nyt-org"><FONT color=#004276>Ruth’s Chris Steak House</FONT></A>, only the third in New Jersey, draws customers from a wide area, he said.</P>
<P>Going into the holidays, the mall’s buffed-up retail space is 75 percent leased — which is above the national average of 72 percent for centers that have opened within the last year, according to retail specialists. The office building and space above the shops of the mall’s “Main Street” are 95 percent occupied.</P>
<P>A couple of retailers from Princeton Borough’s small, elite downtown have opened new, larger stores at Princeton Forrestal, lured by “aggressively priced rents,” Mr. Harding said. They are the Silver Shop, an antiques dealer, which opened a second store and is adding an adjacent art gallery, and Luxe Homes, a furnishings store, which relocated from a smaller downtown location.</P><NYT_CORRECTION_BOTTOM>
<DIV class=correctionNote>&nbsp;</DIV></DIV> ]]></description><link>http://www.princetonforrestalvillage.com/content/news/News_Item.asp?content_ID=9</link><pubDate>11/13/2008 3:06:54 PM</pubDate></item><item><title>Princeton Forrestal Village helps Plainsboro make a Fortune Magazine 'Top 100' list</title><description><![CDATA[ <P class=MsoNormal style="MARGIN: 0pt"><B><SPAN style="FONT-SIZE: 15.5pt; FONT-FAMILY: Arial"><BR><IMG alt="" src="http://www.princetonforrestalvillage.com/portal/upload_folder/packet.gif" border=0 alignment=""></SPAN></B></P>
<P class=MsoNormal style="MARGIN: 0pt"><B><SPAN style="FONT-SIZE: 15.5pt; FONT-FAMILY: Arial"></SPAN></B>&nbsp;</P>
<P class=MsoNormal style="MARGIN: 0pt"><B><SPAN style="FONT-SIZE: 15.5pt; FONT-FAMILY: Arial">Plainsboro makes a  Top 100  list in Fortune Magazine imprint<?xml:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" /><o:p></o:p></SPAN></B></P>
<P class=MsoNormal style="MARGIN: 0pt">By Greg Forester, Staff Writer</P>
<P class=MsoNormal style="MARGIN: 0pt"><STRONG>Posted:</STRONG> Tuesday, April 15, 2008 7:13 AM EDT</P>
<P class=MsoNormal style="MARGIN: 0pt">&nbsp;<o:p></o:p></P>
<P class=MsoNormal style="MARGIN: 0pt"><SPAN style="mso-spacerun: yes">&nbsp;&nbsp; </SPAN>PLAINSBORO — A focus on good planning and maintaining a high quality of life in Plainsboro was rewarded earlier this month, say township officials, pointing to the township gaining the 52nd spot on Fortune Small Business Magazine’s “Top 100 Places to Live and Launch a Small Business” list, appearing in the April issue.<BR><BR><SPAN style="mso-spacerun: yes">&nbsp; </SPAN>“We believe this kind of confirmed what we’ve always believed about Plainsboro, that it is a great place to live and start a business,” said Mayor Peter Cantu. “We’re very happy about it.”<BR><BR>&nbsp;&nbsp;&nbsp;Reasons cited for Plainsboro’s placement on the list included a superior school district and mixed-use development at the Plainsboro Village Center. Also mentioned was the township’s proximity to both Princeton’s cultural and dining attractions and transportation centers, providing an easy trip to New York.<BR><BR>&nbsp;&nbsp;&nbsp;The magazine also researched Plainsboro though both a statistical and qualitative analysis, according to township officials, who were informed that Fortune reporters actually went out and interviewed the owners of businesses in the township.<BR><BR>&nbsp;&nbsp;&nbsp;Township Administrator Robert Sheehan said that other policies — such as the preservation of open space and building bicycle and pedestrian infrastructure — contribute to the quality of life and the community in the township.<BR><BR>&nbsp;&nbsp;&nbsp;“All of those things are part and parcel of good community planning, and being faithful to the overall plan,” said Mr. Sheehan. “Good planning also creates opportunities for the private sector.”</P>
<P class=MsoNormal style="MARGIN: 0pt">&nbsp;<o:p></o:p></P>
<P class=MsoNormal style="MARGIN: 0pt">&nbsp;&nbsp;&nbsp;<SPAN style="BACKGROUND: yellow; mso-highlight: yellow">A revival of the Princeton Forrestal Village shopping center and the success of eateries there — like Salt Creek Grille and Tre Piani — were also likely part of the decision by Fortune to put Plainsboro Township on the list, according to Mayor Cantu. &nbsp;“There is a conscious effort to use restaurants as a magnet for that growth,” he said.</SPAN><BR><BR>&nbsp;&nbsp;&nbsp;One upcoming project that should add to the quality of life in Plainsboro is the new Plainsboro Public Library planned for a site in the Plainsboro Village Center, Mr. Sheehan said.<SPAN style="mso-spacerun: yes">&nbsp; </SPAN>Construction of the library began this past winter, and the new building is slated for completion sometime in early 2009.<BR><BR>&nbsp;&nbsp;&nbsp;The new facility will offer significantly more space than the current, more crowded library, along with research and community spaces.</P> ]]></description><link>http://www.princetonforrestalvillage.com/content/news/News_Item.asp?content_ID=8</link><pubDate>4/16/2008 4:04:00 PM</pubDate></item><item><title>Welcome New Neighbors to Princeton Forrestal Village</title><description><![CDATA[ <P>
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<P>&nbsp;We are pleased to welcome several new neighbors to the </P>
<P>Princeton&nbsp;Forrestal Village Community.&nbsp;&nbsp;The following </P>
<P>are the new retail&nbsp;tenants that we are fortunate </P>
<P>enough welcome.&nbsp;&nbsp;We have Calico Homes at </P>
<P>102 Village Blvd. which has already opened its doors.&nbsp;</P>
<P>&nbsp;We also have BLC Beautyland Couture&nbsp;at 116 Main </P>
<P>Street opening on April 25, 2008.&nbsp; Charter Private </P>
<P>Safe Deposit Company has also opened its doors </P>
<P>at 128 Stanhope Street and The Silver Shop at</P>
<P>&nbsp;1 Main Street which will be opening soon.</P>
<P>Please make sure that you stop by and introduce </P>
<P>yourselves to our new tenants.</P></TD></TR></TBODY></TABLE></P> ]]></description><link>http://www.princetonforrestalvillage.com/content/news/News_Item.asp?content_ID=7</link><pubDate>4/7/2008 2:43:44 PM</pubDate></item><item><title>The Westin Princeton goes the extra mile to make visitors happy at PFV.</title><description><![CDATA[ Set in a beautiful suburban setting, The Westin Princeton at Forrestal Village is situated in the picturesque Princeton Forrestal Village , a&nbsp;corporate and shopping center featuring&nbsp;offices, retail&nbsp;stores and restaurants. Our convenient location on the Route 1 Corridor of Princeton puts us halfway between Philadelphia and New York. 
<P align=center><IMG height=223 src="http://www.princetonforrestalvillage.com/images/photos/westin-01.jpg" width=325> 
<P align=left>Whether traveling for business or leisure, guests will enjoy our attentive service and relaxing facilities. Rejuvenate with a dip in our outdoor pool or play a match of tennis on one of our outdoor courts. At the end of a long day relax with a signature cocktail at our newly renovated Martini bar, Bar 10. Or savor a sensational dinner at Fresh, a relaxed restaurant featuring freshly prepared American favorites. Authentic Japanese cuisine is offered at Bimi Sushi Bar, featuring tableside food preparation Teppan-Yaki style and a sushi bar. </P>
<P>Retreat to one of The Westin Princeton at Forrestal Village  s 294 guest rooms and suites, each equipped with our signature Heavenly Bed® to ensure a peaceful night s sleep. With contemporary amenities like Wireless High Speed Internet Access and oversized work desks, guests will be able to spread out and relax. </P>
<P>Our 19 meeting rooms and more than 18,000 square feet of state-of-the-art meeting space are fully wired for High Speed Internet Access, complete with T-1 line connections and video conferencing capabilities. The 9,800 square foot ballroom can accommodates up to 1,600 guests and is the perfect venue for everything from weddings, to business conferences, galas, and charity events. </P>
<P>If you d prefer to host your next reception in the beautiful outdoors, our fully furnished landscaped patio area offers the perfect solution. Our outdoor function area can accommodate up to 150 guests and is ideally suited for themed events. </P>
<P align=center><IMG height=284 src="http://www.princetonforrestalvillage.com/images/photos/westin-02.jpg" width=325></P>
<P align=left>Our 19 meeting rooms and more than 18,000 square feet of state-of-the-art meeting space are fully wired for High Speed Internet Access, complete with T-1 line connections and video conferencing capabilities. The 9,800 square foot ballroom can accommodates up to 1,600 guests and is the perfect venue for everything from weddings, to business conferences, galas, and charity events. </P>
<P align=left>If you d prefer to host your next reception in the beautiful outdoors, our fully furnished landscaped patio area offers the perfect solution. Our outdoor function area can accommodate up to 150 guests and is ideally suited for themed events.</P>
<P></P>
<P></P> ]]></description><link>http://www.princetonforrestalvillage.com/content/news/News_Item.asp?content_ID=6</link><pubDate>9/22/2007 2:18:30 PM</pubDate></item></channel></rss>