RED BANK, NJ – Mack-Cali Realty Corp. has sold a 639,490-square-foot, class A office portfolio in Red Bank, NJ for $84 million. First Mile Properties, the suburban affiliate of Crown Acquisitions, purchased the portfolio.
The sale aligns with Mack-Cali's suburban office sales strategy. The River Centre portfolio represents Mack-Cali's last suburban office portfolio.
Mack-Cali will utilize the proceeds of the sale to repay its term loan.
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Ingrid Tunberg
Ingrid Tunberg sits on the editorial team as a coordinator and reporter for Real Estate Forum and GlobeSt.com. She is responsible for writing stories, assisting with industry awards and marketing nomination events. Previously, Ingrid worked as a copywriter across various industries throughout New York City and Chicago.
