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.

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