The seller is 1633 Littleton Associates LP, an affiliate of IvyEquities of Montvale, NJ. The latter is six-year-old firm that hasbeen aggressively buying up suburban office buildings in theNortheast, mostly in the 50,000- to 200,000-sf range, amassing aportfolio of some two million sf in the process. No further detailsof the transaction were released.

"This acquisition enables us to reinvest the proceeds fromnon-core asset sales," explains Mitchell E. Hersh, chief executiveofficer of the REIT, which itself has been active in theacquisition business. "It enables us to both increase our holdingsat this business campus and to strengthen our presence in our coreNortheast markets."

The business campus Hersh is referring to is, appropriately,Mack-Cali Business Campus, where the newly acquired asset sits on asite of just over five acres. The two-story building, whichfeatures a full-height atrium lobby and a number of otheramenities, including a 1,500-sf raised-floor data center, was builtin 1978. The acquisition increases Mack-Cali's holdings at itsnamesake campus to 12 buildings totaling more than 1.7 millionsf.