PARSIPPANY, NJ—Mack-Cali Realty of Cranford, NJ, has plunked down $42.2 million for Gatehall IV, a 265,464-sf class A office property in Parsippany. The seller was National Office Partners LP, a venture between the Texas-based Hines organization and the California Public Employees’ Retirement System. A CB Richard Ellis team repped the seller and found the buyer. The property is 96% leased with a tenant roster that includes UPS, Toyota Motor Credit, Nabisco, JB Hanauer & Co. and Royal Insurance.

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