9/4/2007

New Jersey REIT purchases two office buildings for $12.5 million

by

Expressway Corporate Center

Edison, N.J.-based Mack-Cali Realty Corporation purchased two office buildings in the Expressway Corporate Center in Egg Harbor Township, N.J., for $12.5 million.

Joseph Sklencar, Sr. and Joseph Sklencar, Jr. of Grubb and Ellis' Marlton, N.J. office represented the buyer, private investor Ron DePietro of Haddonfield, N.J.

John Adderly, Vice President of Leasing, and David Carlick, Director of Acquisitions, handled the negotiations for Mack-Cali.

The two buildings total about 80,000 square feet and are situated on 11 acres. The property was fully leased at the time of sale by Computer Sciences Corporation.

Developed between 1987 and 1991, the buildings are located at 100 and 200 Decadon Drive.

Grubb & Ellis is a commercial real estate advisory firm providing property management and consulting services.

Mack-Cali Realty Corporation is a fully integrated, self-managed real estate investment trust (REIT) providing management, leasing, development, construction and other tenant-related services.

Address: 100 and 200 Decadon Drive, Egg Harbor Township, N.J.

Size: 80,000 square feet

Built: Between 1987 and 1991

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Filed Under: Office

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