Mack's Philly purchase.Mack-Cali Realty realty n. a short form of "real estate." (See: real estate) REALTY. An abstract of real, as distinguished from personalty. Realty relates to lands and tenements, rents or other hereditaments. Vide Real Property. Corporation has acquired 150 Monument Anything by which the memory of a person, thing, idea, art, science or event is preserved or perpetuated. A tomb where a dead body has been deposited. In real-property Road, a six-story, 125,783 s/f, class A office building in Bala Cynwyd, Pennsylvania Bala Cynwyd is a village in Lower Merion Township which is located in the Main Line in southeastern Pennsylvania, bordering the western edge of Philadelphia. It was originally two separate towns, Bala and Cynwyd, but is commonly treated as a single community. . The building was purchased for $18.6 million. 150 Monument Road is approximately 66% leased to 23 tenants. Mitchell E. Hersh, president and chief executive officer of Mack-Cali, commented, "As Bala Cynwyd is a top submarket sub·mar·ket n. A geographic, economic, or specialized subdivision of a market. adj. Being below what is usual in a particular market: submarket wages; submarket interest rates. in Suburban Philadelphia, we view this transaction as an excellent opportunity to add value to the asset through lease up, and to increase our presence in our core Northeast region." |
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