Mack-Cali sells N.Y. commercial office property for 28.3M

Emily Bader//June 30, 2014

Mack-Cali Realty Corporation, an Edison-based real estate investment firm, announced Monday that it has sold an office property in Montebello, N.Y. for approximately $28.3 million.The property, located at 400 Rella Blvd., is a three-story, 195,375-square-foot commercial office building.

Jeffrey Prezant of Cushman & Wakefield represented Mack-Cali in the transaction.

“We look forward to redeploying the proceeds from the sale of this non-core asset into more strategic growth opportunities,” Mitchell E. Hersh, president and CEO of Mack-Cali, said in a news release.

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