Mack-Cali Realty Corp. reaped more than $500 million last year from the sale of buildings and joint venture interests, with additional sales slated for 2018 as it winds down its plan to right-size and reposition its vast portfolio.
Tenant brokers with Savills Studley are touting an opportunity for office users in 2018, amid last year’s slowdown in leasing volume and growing availabilities in the state’s top submarkets.
A developer has closed on more than $100 million in construction financing for its high-end, 184-unit condominium project on the Hudson waterfront, where construction is well underway.
The state’s office market took a step back in the fourth quarter of 2016, according to new industry research, as leasing activity slowed and several large blocks of space hit the market.
Mack-Cali Realty Corp. has taken the wraps off its plans for a new 1.2 million-square-foot office tower that it hopes to build in Jersey City under a joint venture with SJP Properties.