Centennial Awarded Management Contract for MarketFair
DALLAS – December 2, 2022 – Centennial, a real estate investment firm with a national portfolio of shopping, dining, entertainment and mixed-use destinations as well as a full-service property management platform serving third-party owners (www.CentennialREC.com), announced today that it has been awarded the management contract for MarketFair, an enclosed lifestyle shopping center in Princeton, New Jersey, just two miles from the renowned Princeton University and a short distance from some of the nation’s largest employers (https://marketfairshoppes.com). Under the contract, which takes effect on December 6th, Centennial will provide a full spectrum of management, leasing, tenant coordination, marketing and accounting services for the shopping center.
“MarketFair is a boutique shopping center that is perfectly positioned in the greater Princeton market with relevant brand-name tenants like Anthropologie, Athleta, Free People, Lovesac, Pottery Barn, West Elm, AMC Theatres, Seasons 52 and Tommy’s Tavern & Tap that represent the best in each of the center’s curated retail, entertainment and restaurant categories,” says Whitney Livingston, President of Centennial. “MarketFair is a well-merchandised, sought-after center that retail tenants are vying to join, which makes it an important addition to the Centennial portfolio as well as a milestone achievement in our rapid growth in the mid-Atlantic market.”
MarketFair marks Centennial’s second management contract in New Jersey, and the third in the region. Aside from MarketFair, Centennial also manages Marlton Square in Marlton, New Jersey, as well as The Promenade Shops at Saucon Valley in Center Valley, Pennsylvania. With Centennial’s full-service mid-Atlantic office located just minutes from MarketFair, Centennial is well-positioned to continue to expand its management and leasing footprint throughout the market with an on-the-ground, experienced local team.
From strategic merchandising plans to innovative experiential marketing, customized placemaking solutions, community connections and loyalty programs, Centennial has a unique vision for the future of retail real estate that has led to the successful repositioning of retail properties in key markets from coast to coast. The robust full-service platform Centennial has built perfectly positions the firm to help retail real estate owners navigate today’s complex retail market while also planning for future value creation.
In addition to adding management contracts for The Promenade Shops at Saucon Valley and The Shops at Montebello in Montebello, California, during the 2022 calendar year, Centennial acquired Fairlane Town Center in Dearborn, Michigan; The Shops at Willow Bend in Plano, Texas; and Westland Mall in Hialeah, Florida. It also grew its owned and managed properties as well as its industry-leading retail real estate skillset through the acquisition of the Bayer Properties operating platform in August, which expanded Centennial’s portfolio from 15 million square feet of owned or managed assets to 23 million square feet of managed properties in 18 states.
About MarketFair
MarketFair is an enclosed lifestyle shopping center in Princeton, New Jersey, a five-minute drive from the renowned Princeton University. Anchored by Barnes & Noble, AMC Theatres and many of the nation's most desirable retailers and restaurants, including Anthropologie, Pottery Barn, Athleta and Seasons 52, the center features more than 40 shops, eateries and restaurants. The 242,000-square-foot MarketFair was ahead of its time, featuring both interior- and exterior-facing retail space, making it widely regarded as the precursor to today’s most modern lifestyle centers. For more information, visit the center’s website at https://marketfairshoppes.com.
About Centennial
Centennial is a real estate investment firm with a national portfolio of shopping, dining, entertainment and mixed-use destinations as well as a full-service property management platform serving third-party owners. Today, the firm operates more than 23 million square feet of managed properties in 18 states. Since 1997, Centennial has played a pivotal role in shaping the evolution of American retail by creating a superior multi-faceted shopping experience with properties that serve not only as a place of commerce, but as a place of community. For more information, visit CentennialREC.com.
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Karen Franse
Blackford & Associates
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Carmen Herlihy
Blackford & Associates
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