Mack-Cali sheds Fishkill space

Company refocuses investment plan

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Mack-Cali Realty Corp. sold a 118,727-square-foot office building in Fishkill, N.Y. The value of the transaction was $15.1 million. The class A property, located at 300 Westage Business Center Drive, was 85.3 percent leased at the time of sale. It was sold to a private investor. Mitchell E. Hersh, president and chief executive officer of Mack-Cali, commented, "The sale of this building allows us to capitalize on the favorable investment sales market while continuing to reduce our holdings in non-core markets." Mack-Cali Realty Corp. is a fully-integrated, self-managed real estate investment trust operating primarily in the northeastern United States. ...