Search
 

Mack-Cali Completes Exit From Western US

SAN FRANCISCO-The New Jersey-based company closes on the $126-million sale of two Downtown office buildings totaling 455,000 sf.

By Brian K. Miller | Updated on December 22, 2006

SAN FRANCISCO-Mack-Cali Realty Corp. has closed on its sale of two Downtown office buildings here for $126 million, completing its exit from Western US markets. The New Jersey-based REIT intends to focus on growth opportunities in the Northeastern US.

Located at 760 Market St. and 795 Folsom St., the San Francisco properties have a combined 455,000 sf of rentable space. The new owner is a partnership of Westcore Properties LLC; Angelo, Gordon & Co.; and City Center Retail LLC.

The Market Street property is an 11-story, 267,446-sf class A office building that is 78% leased. The Folsom Street property is a six-story, 183,445- sf class A office building that is approximately 79% leased.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 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.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.