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Building owner Emerita USA has hired the brokerage firm to help roll out an action plan to improve efficiency and operation of the historic 592,000-square-foot brick and limestone office tower as part of its reintroduction and rebranding.
“While the company continues to believe that an amicable resolution of Bow Street's expensive and disruptive proxy contest would be in the best interests of the company and its stockholders, in these circumstances, the company had no choice but to terminate settlement discussions with Bow Street,” Mack-Cali Realty states.
Catalyst is also seeking to add services such as job-training programs, community health clinics, pre-kindergartens and affordable grocery stores to its developments.
The Livingston, NJ-based firm reports that in the past 12 weeks it has arranged 11 urban-core sales totaling more than $36.85 million that involved more than 226 units spanning Elizabeth, East Orange and Orange markets.