Mack-Cali Realty Corp. has acquired 5 Wood Hollow Road, a three-story, 317,040 square-foot class A office property in Parsippany, N.J. The building was purchased from The Evans Parsippany Partnership for approximately $34 million.
The acquisition of 5 Wood Hollow Road, which is 100 percent leased to Lucent Technologies, increases Mack-Cali’s holdings in Parsippany to 14 buildings totaling approximately 2.2 million square feet.
The seller was represented by CB Richard Ellis and Eastdil Realty in the transaction.
The Evans Partnership was founded by Charles Evans and Michael Shure in 1966. They along with other partners developed over 6 million square feet of first class office buildings.
Mack-Cali Realty is a fully integrated, self-administered, self-managed real estate investment trust providing management, leasing, development, construction and other tenant-related services for its class A real estate portfolio. Mack-Cali owns or has interests in 264 properties, primarily office and office/flex buildings located in the Northeast, totaling approximately 28.6 million square feet.
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