Mack-Cali Sells Woodbridge Workplaces for $61M

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Mack-Cali Real estate Corporation marketed 581 Key St., a 203,335-square-foot workplace building in Woodbridge Township, NJ, for $61 million. The purchase proceeds Mack-Cali’s continuous tactical sale of its suv properties, following the recent disposition of 7 School Dr. in Nw Jersey’s Morris Area.
“As we’ve said before, we will continue to divest our country office assets and are urged by the task we’ve attended day,” said MaryAnne Gilmartin, acting Chief Executive Officer of Mack-Cali. “Additionally, we stay laser-focused on the repositioning of Harborside as well as dealing with our existing lessees to support them as staff members aim to go back to the office.”

The transaction was facilitated by Cushman & & Wakefield of New Jacket. The building was acquired by 581 Key Road, LLC, a subsidiary within the Plymouth Rock Team of Companies, and will remain to act as Plymouth Rock’s New Jacket head office. Longpoint Real estate Partners functioned as a consultant to the purchaser.

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