EDISON, NJ—Mitchell E. Hersh, president and chief executive officer of Mack-Cali, will step down from that position at the company's annual meeting in May 2015 and will not stand for reelection to the Mack-Cali board of directors, the company announced today. He became CEO in 1999 and president in 2004.

EDISON, NJ–While New Jersey's economy continues to recover from the last recession, the state's economic development community has been armed with some powerful incentive programs that have leveled the competitive playing field with other states, say panelists at NAIOP New Jersey's recent “Incentives Update for Developers & Brokers” seminar.

PARSIPPANY, NJ—Morris Corporate Center III, 400 Interpace Parkway in Parsippany, a class A, 530,000-square-foot office property received the Building Owners and Managers Association of New Jersey's 2014 BOMA Outstanding Building of the Year Award as the best-managed building in BOMA's Suburban Office Park (Low Rise)category.

YARDLEY, PA—HFF has closed the sale of and arranged acquisition financing for Yardley Crossing, a 196-unit multi-housing community situated along the Delaware River at 1800 Kathy Drive, Yardley, PA.

KING OF PRUSSIA, PA–In a major reposition that is already drawing significant interest from a diversity of tenants, Kairos Real Estate Partners has unveiled its renovated Triad building in the heart of the Conshohocken, Radnor, and King of Prussia submarket.

EDISON, NJ —Cassidy Turley negotiated the sale and lease of a 63,000 square-foot warehouse at 930 New Durham Road in Edison, NJ. The buyer, DCT industrial Trust, plans to upgrade the property, which The Lennox International Group has leased as a warehouse for pet treats.

CARLSTADT, NJ—NAI Hanson has leased a 33,000-square-foot, modern industrial building at 50 Amor Avenue in Carlstadt, NJ to moving company M4U Inc.

KING OF PRUSSIA, PA—Willner Properties recently completed phase one of a capital improvement campaign for the class A Exton Corporate Center, 102 Pickering Way, Exton, PA.