PARSIPPANY, NJ—Continuing its strategicrepositioning to focus on core holdings, Mack-Cali RealtyCorporation acquired 3 Sylvan Way, athree-story vacant class A office property in its 600-acreMack-Cali Business Campus in Parsippany, and isplanning extensive renovations to it and two sister buildings.
Mack-Cali purchased the property from creditrating company Dun & Bradstreet, andtwofactors drove Mack's interest in acquiring thebuilding, Mack-Cali president MichaelDeMarco tells GlobeSt.com exclusively.
One is that 3 Sylvan Way sits betweenOne and 5 Sylvan Way, and thebuildings share a connected, below-grade parking structure thatprovides protected walkways between the three buildings.
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