Mack-Cali Realty Corp. sold Kemble Plaza I, a 387,000-square-foot office property in Morris Township, N.J.
The value of the transaction was $77 million.
The class A property, located at 340 Mt. Kemble Ave., was sold to an entity advised by Falcon Real Estate Investment Co. Ltd. of New York City.
Kemble Plaza I was developed for AT&T Corp. by Mack-Cali in 1981 and was fully leased to AT&T at the time of sale. The lease was recently extended through 2014.
Mack-Cali Realty Corp. is a self-administered, self-managed real estate investment trust.
***
What’s your opinion? Send your Letter to the Editor to opinion@inman.com.
You have {{data.cm.viewsLeft}} articles left this month.
This content is available to Inman Select subscribers.
Please select an option below.
Please register to access this content.
To continue viewing the content you love, please sign in or create a new account
You have used all of your free pageviews.
Please subscribe to access more content.
Access denied!