Mack-Cali buys East Coast space

Vacancy stands at 34%

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Mack-Cali Realty Corp. recently acquired 150 Monument Road, a 125,783-square-foot office building in Bala Cynwyd, Pa. The six-story, class A building was purchased for $18.6 million. 150 Monument Road was approximately 66 percent leased at the time of sale to 23 tenants, including Standard Register, Philadelphia United Life, and the GE Group Life Assurance Company. Robert Fahey and Douglas Joseph of CB Richard Ellis represented the seller in the transaction. Mack-Cali Realty Corp. is a self-managed real estate investment trust. *** What's your opinion? Send your Letter to the Editor to