(The following is a reformatted version of a press release
issued by Mack-Cali Realty and received via e-mail. The release
was confirmed by the sender.)
MACK-CALI SELLS MOORESTOWN, NEW JERSEY OFFICE PROPERTIES
Edison, New Jersey--November 7, 2012--Mack-Cali Realty
Corporation (NYSE: CLI) today announced that it has sold
Moorestown Corporate Center on Strawbridge Drive in Moorestown,
New Jersey for approximately $19.9 million. The three buildings
total 222,258 square feet and are 61.4% leased. They were sold
to a fund sponsored by Keystone Property Group.
Mack-Cali was represented in the transaction by Jerome Kranzel,
formerly of Jones Lang LaSalle, and Douglas Rodio of Jones Lang
Mitchell E. Hersh, president and chief executive officer of
Mack-Cali, commented, “The sale of these buildings continues our
plan of recycling our capital out of non-core assets.”
Mack-Cali Realty Corporation is a fully integrated, self-administered, self-managed real estate investment trust (REIT)
providing management, leasing, development, construction and
other tenant-related services for its class A real estate
portfolio. Mack-Cali owns or has interests in 278 properties
consisting of 272 office and office/flex properties totaling
approximately 31.7 million square feet and six multi-family
rental properties containing over 1,700 residential units, all
located in the Northeast. The properties enable the Company to
provide a full complement of real estate opportunities to its
diverse base of commercial and residential tenants.
Additional information on Mack-Cali Realty Corporation is
available on the Company’s website at www.mack-cali.com.
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