Aug
03
Mack-Cali Sheds NJ Office Asset
ByHFF worked on behalf of Mack-Cali for the sale of a Parsippany, N.J., office building.
600 Parsippany Road, Parsippany, N.J.
New York—HFF recently closed the sale of an approximately 100,000-square-foot office asset in Parsippany, N.J. An HFF investment sales team led by Senior Managing Director Jose Cruz, Managing Director Kevin O’Hearn, Directors Michael Olive and Stephen Simonelli and Associate Director Marc Duval represented seller Mack-Cali Realty Corp. in the transaction. A joint venture between Bukiet Building Management and Mountain Development Corp.acquired the building free and clear of existing debt.
Financial details of the deal have not been disclosed. According to data from Yardi Matrix, the three-story office building at 600 Parsippany Road last traded back in 1995 for $6.9 million…
