Upstate New York Office Building Sold

Mack-Cali Realty Corp. has sold a Fishkill, N.Y. office building for $15.1 million. 300 Westpage Business Center Dr. is a 119,727 sq. ft., Class-A office building. The 85.3% leased property was sold to an undisclosed private investor. With this sale, Mack-Cali has exited Dutchess County.

“The sale of this building allows us to capitalize on the favorable investment sales market while continuing to reduce our holdings in non-core markets,” says Mitchell Hersh, president and chief executive officer of office REIT Mack-Cali.

Mack-Cali (NYSE: CLI) owns or has interests in 303 properties, primarily office and office/flex buildings located in the Northeast, totaling approximately 34.2 million sq. ft. Investment sales brokerage Eastdil Realty Co. represented Mack-Cali in the transaction.

Hide comments

Comments

  • Allowed HTML tags: <em> <strong> <blockquote> <br> <p>

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.
Publish