Principal Real Estate Investors, Madison Marquette Acquire MarketFair

NJBIZ STAFF//August 9, 2005//

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Princeton”s Principal Real Estate Investors, a diversified asset management organization and a member of the Principal Financial Group, said Monday its joint venture with Madison Marquette of Washington, D.C., has acquired MarketFair, a 240,000-sq.-ft. shopping center in West Windsor. Financial terms weren”t disclosed.MarketFair is 98% occupied and offers a combination of some of the nations strongest and most sought-after retailers like Pottery Barn, Williams-Sonoma, Anthropologie and Smith & Hawken. The center is anchored by Barnes & Noble and a United Artists Theater and has sales in excess of $400 per sq. ft.Madison Marquette is an affiliate of investment firm Capital Guidance. It oversees more than 28 million sq. ft. of regional malls, specialty centers, community centers, urban villages and other retail and mixed-use properties throughout the U.S.