At the time of the sale the building was 93.1% leased, Mack-Caliofficials say. Andrew Merin, David Bernhaut, Gary Gabriel and JoseCruz of Cushman & Wakefield's Metropolitan Area Capital MarketsGroup represented the seller.
"As we've been seeking and executing on strategic growthopportunities in selected markets, we have been looking to reduceour exposure in non-core markets and submarkets," Mitchell Hersh,Mack-Cali president and CEO, says of the deal. "While 1000Bridgeport Ave. is an attractive property, it has been our soleasset in the Shelton/Stratford submarket. Accordingly, we arepleased to be able to complete this transaction so that we canredeploy the proceeds elsewhere."
Mack-Cali still has office holdings in Stamford, Greenwich andNorwalk in eight properties totaling approximately 720,000 sf.
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John Jordan
John Jordan is a veteran journalist with 36 years of print and digital media experience.
