Mack-Cali Realty Corp. Buys 147,241 SF Office Building in New Jersey

PARSIPPANY, N.J. — Mack-Cali Realty Corp. has acquired a vacant office building located at 3 Sylvan Way in Parsippany. The 147,241-square-foot, three-story property features 50,000-square-foot plates with a saw-tooth design and large open spaces. The property, along with 1 and 5 Sylvan Way, will repositioned as an interconnected three-building mini campus, as part of the overall 600-acre Mack-Cali Business Campus. The total campus includes 15 Class A office properties totaling approximately 2.1 million square feet of space. The three buildings will undergo significant renovations, including lobby renovations, the creation of a full-service fitness center with yoga rooms and a golf simulator, an upgraded business-class conference center and numerous dining options, including a full-service café and coffee bar.