Mack-Cali sells airport property

Jessica Perry//May 3, 2013

The Edison-based real estate investment trust Mack-Cali Realty Corp. on Thursday announced it sold its Mack-Cali Airport property in Little Ferry in a $32.3 million deal.According to an announcement, the building is a fully leased, two-story, 286,628-square-foot commercial property.

In prepared remarks, Mitchell E. Hersh, president and CEO of Mack-Cali, said the sale is a contuination of the RREIT’s strategy of “recycling our capital out of non-core assets to fuel our diversification into multifamily.”