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Mack-Cali Acquires $13M Greenbelt Plot

GREENBELT, MD—The company says it should have definitive development plans in place within the next few months.

By Erika Morphy | Updated on June 14, 2007

GREENBELT, MD-Mack-Cali Realty Corp. has acquired a parcel of approved land next to an office park it nabbed here last year. This latest purchase – 43 acres next to the Capital Office Park – was for approximately $13 million.

The land purchase was made pursuant to an option agreement that was part of Mack-Cali’s February 2006 acquisition of the 842,300-sf park, which was reported in GlobeSt.com at the time.

Mack-Cali took ownership of the seven-building, class A office complex for approximately $162 million from Springhill Lake Associates Community Realty.

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