Mack-Cali closes two deals totaling 200,000 s/f.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 announced two deals totaling almost 200,000 s/f. The company announced that the New Jersey Turnpike
The Turnpike turnpike, road paid for partly or wholly by fees collected from travelers at tollgates. It derives its name from the hinged bar that prevented passage through such a gate until the toll was paid. See also road. Authority will house its headquarters at the building after consolidating offices of the New Jersey Turnpike and Garden State Park way, which merged two years ago. 581 Main Street, a 200,000 square-foot class A office property that overlooks the New Jersey Turnpike, is 100% leased. Mitchell Mitchell, city (1990 pop. 13,798), seat of Davison co., SE S.Dak.; inc. 1881. Mitchell is a trade, distribution, and shipping center for a dairy and livestock area. E. Hersh, president and chief executive officer of Mack-Cali, commented, "We're very pleased to be able to accommodate the Authority's consolidation requirements, and look forward to serving its office space needs for years to come." Both the Turnpike Authority and Mack-Cali were represented inhouse. In the second major transaction, QualCare Alliance Networks, Inc. has leased 99,541s/f at 30 Knightsbridge Road in Piscataway, New Jersey. Initial occupancy will include 78,468 s/f for a term of 15 years, followed by a second occupancy phase of 21,073 square feet. Commented Hersh, "This transaction demonstrates our ability to leverage our industry relationships to secure long-term Long-term Three or more years. In the context of accounting, more than 1 year. long-term 1. Of or relating to a gain or loss in the value of a security that has been held over a specific length of time. Compare short-term. leases with high-quality tenants. We're pleased to welcome QualCare to our portfolio and to accommodate its new headquarters." QualCare, a managed care services provider, was represented by Brad Fenlon of CB Richard Ellis CB Richard Ellis Group, Inc. NYSE: CBG is a multinational real estate corporation currently based in Los Angeles, California, U.S.A.. On December 20, 2006, the corporation, also known as CBRE, completed acquisition of Trammell Crow Co. in a transaction valued at $2. . 30 Knightsbridge Road is a 680,350 square-foot, class A office property acquired from the AT&T Corporation in 2004. AT&T occupies 275,000 square feet at the property on a long-term basis. |
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