At the time of the sale the building was 93.1% leased, Mack-Cali officials say. Andrew Merin, David Bernhaut, Gary Gabriel and Jose Cruz of Cushman & Wakefield's Metropolitan Area Capital Markets Group represented the seller.
"As we've been seeking and executing on strategic growth opportunities in selected markets, we have been looking to reduce our exposure in non-core markets and submarkets," Mitchell Hersh, Mack-Cali president and CEO, says of the deal. "While 1000 Bridgeport Ave. is an attractive property, it has been our sole asset in the Shelton/Stratford submarket. Accordingly, we are pleased to be able to complete this transaction so that we can redeploy the proceeds elsewhere."
Mack-Cali still has office holdings in Stamford, Greenwich and Norwalk in eight properties totaling approximately 720,000 sf.
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John Jordan
John Jordan is a veteran journalist with 36 years of print and digital media experience.
