April 29, 2020 Comments Off on Mack-Cali Ends 24-Year Hold on Fort Lee Offices Views: 671 New Jersey, New York News, Tri-State Area New York

Mack-Cali Ends 24-Year Hold on Fort Lee Offices

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NKF arranged the sale of One Bridge Plaza in Fort Lee, NJ on behalf of Mack-Cali Realty Corporation. Deal terms weren’t disclosed; the buyer of the 10-story Class A office building was a private investor.

A team of Kevin Welsh, Brian Schulz and Jason Emrani of NKF’s Capital Markets group represented the seller in the transaction, with support from New Jersey COO David Simson. The team also procured the purchaser.

Owned by Mack-Cali since 1996, One Bridge Plaza is a 206,500-square-foot, Class A office building that was 69% leased at the time of sale. It’s located within Fort Lee’s emerging live/work/play lifestyle environment at the entrance to the George Washington Bridge.

“One Bridge Plaza’s irreplaceable location and visibility offers a rare opportunity to create a best-in-class urban work environment through the implementation of a strategic capital improvement program and a powerful new brand identity,” said Welsh.

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