Mack-Cali Realty Corporation Sells New Jersey Offices to The Birch Group
Posted on 04/22/2021
Nanuet, NY-based The Birch Group is a real estate investor, owner, and operator. The Birch Group acquired a US$ 255 million four-building office portfolio in Short Hills, New Jersey. The 843,300-square-foot portfolio comprises four class A office buildings in Short Hills. The office portfolio, comprising four buildings, includes 51 JFK Parkway, a 260,750-square-foot property, which is currently 86.9% leased; 101 JFK Parkway, a 197,196-square-foot property, which is currently 98.4% leased; 103 JFK Parkway, a 123,000-square-foot property, which is currently 100.0% leased; and 150 JFK Parkway, a 262,354-square-foot property which is currently 51.5% leased.
Mack-Cali Realty Corporation, a REIT, was the seller.
The sale of the Short Hills Office portfolio follows Mack-Cali’s US$ 254 million sale of its Metropark portfolio to Opal Holdings in March 2021.