Mack-cali Sells Red Bank Office Complex In Bid To Exit Suburban Market

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UPDATED, June 14, 2021, 3:24 p.m.: Mack-Cali’s retreat from the suburban office market rolls on. The New Jersey-based real estate investment trust — which has been aggressively divesting office properties in the state in recent months — announced Monday that it has sold River Centre, a 640,000-square-foot, six-building portfolio in Red Bank for $84 million. The buyer is First Mile Properties, an affiliate of New York-based retail developer Crown Acquisitions, which said it intends to The post Mack-Cali offloads Red Bank office complex for $84M appeared first on The Real Deal New York.

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