Marketfair to Undergo Substantial Improvement Program

New Ambiance and Amenities to Welcome Shoppers in 2009

PRINCETON, NEW JERSEY (December 9, 2008) – Dramatic changes are afoot at Marketfair, Route 1’s premier community retail destination.  Famed Architect Michael Graves of Princeton, New Jersey and New York has designed a dramatic new look for Marketfair both inside and out.  The substantial improvement program will modernize the center’s aesthetic and complement its premium merchandising mix.  Most of the program will be completed in 2009.

New tiled flooring, modern furniture, new lighting schemes, improved indoor and outdoor signage as well as new plants and paint in the interior will greet Marketfair shoppers in the coming months.  The food court is also slated for changes in 2010, including a new configuration and new dining options.  The center’s owner, TIAA-CREF, is initiating the program and Madison Marquette, which manages and leases the center, is directing it.

“Marketfair is an extraordinary retail destination that will soon have an atmosphere truly fitting of its superior mix of shops and restaurants,” said Mark Wampler, General Manager of Marketfair. 

The architectural firm responsible for the new design is Michael Graves and Associates, which has offices in Princeton and New York City and was founded by renowned designer and architect Michael Graves.

“We are very pleased to work with Marketfair and re-imagine our favorite local retail destination,” said Michael Graves. Principal-in-Charge Gary Lapera added, “It’s a wonderful place for the community to shop, and we have some smart ideas to make it even better. The shopping experience will be refreshed with new interiors, lighting and signage in 2009.” 

In recent years, Marketfair has continued to update its merchandising mix.  The most recent addition is Janie and Jack, an upscale boutique children’s clothing and accessories store.

“Our goal has always been to make Marketfair a dynamic, appealing and welcoming shopping environment for the Princeton community,” said Mr. Wampler.  “We believe the substantial improvement program we announced today will once again validate Marketfair as the area’s premier retail destination.”

About Marketfair

Marketfair is a 240,000 square foot retail destination located along Route 1 in West Windsor, New Jersey.  The unique center was built in 1987 and features both interior and exterior-facing retail space that many regard as the precursor to today’s modern outdoor lifestyle centers.  Marketfair is anchored by Barnes & Noble, United Artists Theatres and many of the nation’s most desirable retailers, including Anthropologie, Pottery Barn, Restoration Hardware, Smith & Hawkin, White House Black Market and Williams-Sonoma.  For more information about Marketfair, please visit the website at www.marketfairmall.com.

About Madison Marquette

Madison Marquette is a Washington, D.C.-based investor, developer and operator of retail and retail mixed-use real estate throughout the United States. The company specializes in creating unique retail destinations that respond best to consumer preferences. With regional offices in Fort Lauderdale, Philadelphia, New York, Charlotte, San Francisco, Los Angeles, Seattle and San Diego, Madison Marquette seeks investment opportunities in growing markets. The company maintains a sophisticated in-house operating capability and oversees 23 million square feet of retail real estate. This diverse national portfolio includes many properties that Madison Marquette manages and leases on behalf of third-party owners. For more information about Madison Marquette, please visit http://www.madisonmarquette.com.