Northeast

With the completion of construction, AvalonBay currently has two developments under construction in New Jersey— the 360-unit Avalon Piscataway, in Piscataway, NJ, and the 248-unit Avalon Teaneck in Teaneck, NJ.

The four Ventas-Wexford projects are located in Pittsburgh, Philadelphia and St. Louis and are part of Ventas' near-term $1.5 billion R&I pipeline of expected new projects previously announced by Ventas.

CoStar Group senior consultant Andrew Rybczynski explains what that means in the record breaking deal, for industrial property trends.

"We thank the company's stockholders for engaging with the Mack-Cali Board and management team and providing constructive feedback. We welcome the newly elected directors and look forward to working collaboratively with them to create value for our stockholders," said Mack-Cali Realty chairman William Mack.

The recently renovated, 20-story building, 101 North Tryon, was previously owned by Barings LLC and LRC Properties.

This transaction marks the firm's seventh major acquisition over the past twelve months.