An investment group has picked Newmark Knight Frank as its leasing agent at a well-known office building in Madison, where it’s now marketing 115,000 square feet.
Mack-Cali Realty Corp. has agreed to sell 2.4 million square feet of office space in Parsippany and Madison to a joint venture led by Onyx Equities LLC, in a $288.5 million deal that sets up a plan to shed its entire suburban office portfolio.
A group of well-known developers has sold a 40-acre swath of the Giralda Farms campus in Madison, paving the way for the construction of a new 46,000-square-foot medical facility.
RXR Realty has completed the $368 million sale of six office buildings in Short Hills and Madison to Mack-Cali Realty Corp., according to HFF, in a high-profile trade involving one of the state’s most high-end suburban submarkets.
With a goal of reshaping its footprint as a “totally class A portfolio,” Mack-Cali Realty Corp. has sold more than 35 of its office buildings since the start of 2016, the company said, reaping more than $700 million from properties that it deemed nonstrategic or underperforming.