The Cranford, NJ-based Mack-Cali sold 600 Community Dr. here and 111 East Shore Rd. in Manhasset. The six-story, 237,274-sf 600 Community Dr. is a class A site leased to CMP Media, while the four-story, 55,575-sf 111 East Shore Rd. is home to Administrators for the Professions Inc.
Regarding the firm's exit from Long Island, Mitchell E. Hersh, president and chief executive officer says, "This transaction allows us to exit a non-core market while capitalizing on the favorable investment sales market." Eastdil represented Mack-Cali. The REIT currently owns or has interests in 267 properties, primarily office and office/flex buildings located in the Northeast, totaling approximately 29.9 million sf.
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