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No financial terms of the transaction were disclosed. The four-story properties are currently 67% leased to a variety of tenants including Zurich Insurance, York Risk Services, Ipsos, ICAP and Wallenius Wilhelmsen.
Mack-Cali went further stating that Bow Street's letter included "outright lies, about the company, its Board of Directors and management team in an attempt to conceal the true objective of its proxy contest—Bow Street's desire to acquire control of the Mack-Cali Board in order to force a sale of the company at any price."
Northline is being developed by Northline Leander Development Company in partnership with the city of Leander, which has committed $15 million in direct funding toward roads and infrastructure.
Owners will be reviewing contracts for agreements outlined, and what contractual rights and duties exist in light of the conditions caused by the spread of the coronavirus.
The CBRE report states that life science companies occupy approximately 30 million square feet of lab space in Greater Boston with more than 4 million square feet of space in the development pipeline.
New York-based real estate investment management firm Marx Realty has signed 184,000 square feet of new leases at 10 Grand Central since the announcement of the 36-story building's $48 million repositioning in mid-2018.
Thor Equities Group has acquired 95 Greene St., a 337,888-square-foot property in Jersey City, New Jersey featuring rental space for the life sciences sectors, according to Daniel Loughlin, JLL vice-chairman and who represented Thor Equities in the acquisition.