Mack-Cali Sells New Jersey Office Building for $194 Million

The Mack-Cali Realty Corp. has sold its Harborside Financial Center Plaza 10 building for $194 million. The 577,575 sq. ft. Class-A office tower is located along the Hudson River in Jersey City.

The building is fully leased by Charles Schwab & Co. While Mack-Cali would not confirm the buyer, a real estate source reports that iStar Financial bought the property.

"This transaction allows us to capitalize on an attractive investment sales market and realize the significant value created through the development of this superb property," says Mitchell Hersh, CEO of office REIT Mack-Cali.

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