The four-story property is at 2200 Renaissance Boulevard inRenaissance Corporate Park. It is 90% leased to eight tenants.Among them are GlaxoSmithKline, MDS Pharma Services, and HenkelCorp.
Mack-Cali chief executive officer Mitchell E. Hersh says theacquisition demonstrates his company's "continuing commitment toreinvest proceeds from non-core asset sales to enhance our strongposition in the Northeast markets."
The purchase brings Mack-Cali's holdings in suburbanPhiladelphia to 14 office properties for a total of more than 1.6million sf. In all, the company owns or has interests in 262properties with an aggregate of about 29 million sf.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
*May exclude premium content
Already have an account?
Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
