December 8, 2020
Mack-Cali Realty Corporation sold 581 Main St., a 203,335-square-foot office building in Woodbridge Township, NJ, for $61 million. The transaction continues Mack-Cali’s ongoing strategic sale of its suburban assets, following the recent disposition of 7 Campus Dr. in Nw Jersey’s Morris County.
“As we’ve said before, we will continue to divest our suburban office assets and are encouraged by the activity we’ve seen to date,” said MaryAnne Gilmartin, interim CEO of Mack-Cali. “In addition, we remain laser-focused on the repositioning of Harborside and working with our existing tenants to support them as employees look to return to the office.”
The transaction was facilitated by Cushman & Wakefield of New Jersey. The building was purchased by 581 Main Street, LLC, a subsidiary within the Plymouth Rock Group of Companies, and will continue to serve as Plymouth Rock’s New Jersey headquarters. Longpoint Realty Partners served as an advisor to the purchaser.
For comments, questions or concerns, please contact Paul Bubny