EDISON, NJ—Mack-Cali Realty Corporation has acquired 333 Thornall Street in Edison, NJ, and will connect the building with one that it already owns next door at 343 Thornall Street.

The purchase price was approximately $53.1 million.

Known as Metroview, the property is a class A office building in Metropark, a major transit hub. Metroview is approximately 96 percent leased and includes 196,000 square feet of office space.

"Metroview is a great complement to our existing 195,700-square-foot asset next door and is another in a series of moves designed to refocus our holdings toward transit-based office assets," says Mack-Cali president Michael DeMarco. "This market is known for its strong rental demands and high occupancies, owing in part to its location just down the road from the nearby transit hub, making it an ideal example of what we are striving to accomplish with our new strategy."

The company plans to integrate its existing building with the new acquisition through the construction of an interconnected, landscaped walkway providing access to the shared amenities, as well as terraced, outdoor seating and various exercise components creating an approximately 400,000-square-foot campus.

"While the buildings are already attractive because of their outstanding location, we plan to add to the existing amenities to make it an even more appealing option for central New Jersey businesses," says Ricardo Cardoso, executive vice president and chief investment officer. "The addition of a new fitness center, conference rooms, Wi-Fi, and multiple dining options will transform the space into an outstanding class A office campus."

333 Thornall Street is a LEED(R) Silver certified building with easy access to routes 287, 1, and 27, as well as the New Jersey Turnpike and Garden State Parkway. The nearby transit hub offers both NJ TRANSIT and Amtrak service and is within walking distance of the complex. Major hotels, dining, and retail are also located in close proximity.

Cushman & Wakefield's Metropolitan Area Capital Markets Group, headed by Andrew Merin, David Bernhaut, Gary Gabriel, Brian Whitmer and Kyle Schmidt, represented the seller and procured the buyer in the sale.


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Correction, 11/17/2015: An earlier version of this story did not include the Cushman & Wakefield team's names. The team list has been added to the story.

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Steve Lubetkin

Steve Lubetkin is the New Jersey and Philadelphia editor for GlobeSt.com. He is currently filling in covering Chicago and Midwest markets until a new permanent editor is named. He previously filled in covering Atlanta. Steve’s journalism background includes print and broadcast reporting for NJ news organizations. His audio and video work for GlobeSt.com has been honored by the Garden State Journalists Association, and he has also been recognized for video by the New Jersey Chapter of the Society of Professional Journalists. He has produced audio podcasts on CRE topics for the NAR Commercial Division and the CCIM Institute. Steve has also served (from August 2017 to March 2018) as national broadcast news correspondent for CEOReport.com, a news website focused on practical advice for senior executives in small- and medium-sized companies. Steve also reports on-camera and covers conferences for NJSpotlight.com, a public policy news coverage website focused on New Jersey government and industry; and for clients of StateBroadcastNews.com, a division of The Lubetkin Media Companies LLC. Steve has been the computer columnist for the Jewish Community Voice of Southern New Jersey, since 1996. Steve is co-author, with Toronto-based podcasting pioneer Donna Papacosta, of the book, The Business of Podcasting: How to Take Your Podcasting Passion from the Personal to the Professional. You can email Steve at [email protected].