PRINCETON, NJ-CAN DO/ Koi Spa Salon has signed a 61,000-square-foot lease renewal at Princeton Forrestal Village, adding to the upscale mix at the newly acquired center. The combination spa and fitness center includes amenities such as the Muscle Maker Grill, an aerobic swimming facility and a daycare center.
“The CAN DO/ Koi Spa Salon Center has been an important part of the regional fitness community within the Princeton sub-market for several years,” says Daniel Ackerman, senior director of leasing of Lincoln Equities Group, a co-owner of Princeton Forrestal Village. “With its more than 4,000--and growing--membership, we welcome the CAN DO/ Koi Spa Salon renewal as a vital and attractive mainstay to the Princeton Forrestal Village.”
A joint venture of the US real estate arm of London-based Investcorp and Rutherford, NJ-based Lincoln acquired the 550,000-square-foot village earlier this year. Located near Princeton University on Route 1 on a 42-acre mixed-use campus, it consists of office, medical office, retail and restaurants in an open-air lifestyle setting. Other tenants include Ruth’s Chris Steak House, Salt Creek Grille and Tre Piani, a food court, Luxe Home Co., Princeton Dance & Theatre Studio and Planet Apothecary. A Westin Hotel and Conference center is under separate ownership.
“The completion of this lease transaction illustrates the the attractiveness of Princeton submarket, especially in the first quarter of 2011, which signifies an important and continuous shift toward recovery in New Jersey's real estate market,” says Lincoln President Joel Bergstein. “As the economy inches toward stability, we look forward to attracting new tenants, and satisfying our current tenants, in this well-maintained, highly amenitized mixed-use facility.”
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