 The Westfield Group acquired the shopping center in early 2002, and renamed it "Westfield Shoppingtown Franklin Park", dropping the "Shoppingtown" name in June 2005.Jacobson's went bankrupt and closed its location in early 2002, days before Westfield announced the takeover.The former Jacobson's was demolished in 2004 and in its place a new wing, the centerpiece of a massive $100 million renovation, opened in 2005.