Monday, April 29, 2013

Mack-Cali Sells Bldg IV for $72.3M

National Commercial Real Estate News From CoStar Group

Mack-Cali Sells Bldg IV for $72.3M

A subsidiary of Cole Corporate Income Trust, Inc., an entity managed by Cole Real Estate Investments, has acquired 55 Corporate Dr. in Bridgewater, NJ for $72.3 million, or about $353 per square foot, from Mack-Cali Realty Corporation (NYSE: CLI).

The four-story, 205,439-square-foot, class A office building was developed in 2011 by Mack-Cali as a build-to-suit for Sanofi-Aventis. Building IV sits on 154 acres in the Route 78 East submarket of...

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