Mack-Cali to Acquire Two Office Buildings in New Jersey Totaling $317M

HOBOKEN AND EDISON, N.J. — Mack-Cali is under contract to acquire two office buildings in New Jersey for a total purchase price of $317 million in separate transactions. In the first deal, Mack-Cali will acquire a 566,215-square-foot office building located at 111 River St. in Hoboken from Equity Commonwealth. The asset is being sold for $235 million and the transaction is slated to close in June. In the second deal, the company is purchasing a 10-story office building located at 101 Wood Ave. South in Metropark in Edison. Expected to close in May, the asset will be acquired for $82.3 million.