Mack-Cali sells New Providence office building

By Eric Strauss
New Providence | Oct 13, 2017 at 10:38 am

Mack-Cali Realty Corp. has sold an 81,000-square-foot New Providence office building, according to real estate services firm CBRE Group Inc.

The Class A property at 890 Mountain Ave. comprises 81,075 square feet at the corner of Mountain Avenue and Diamond Hill Road.

CBRE Institutional Properties’ Jeffrey Dunne and Jeremy Neuer represented Mack-Cali in the deal. The buyer and financial terms were not disclosed.

“With its premier location and 35 percent occupancy, 890 Mountain offers an excellent repositioning opportunity for new ownership, particularly for medical use, given its high 4.85/1,000 parking ratio,” Dunne said.