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PAG Snaps Up Parsippany Offices from Mack-Cali
PAG Investments acquired 5 Wood Hollow Rd., a Class A office property in Parsippany, NJ, from Mack-Cali Realty Corporation for an undisclosed sum. Cushman & Wakefield’s Andy Merin, David Bernhaut, Gary Gabriel, Brian Whitmer, Kyle Schmidt and Frank DiTommaso represented the seller and procured the 330,000-square-foot property’s buyer, supported by leasing brokers William O’Keefe and Kelsey Nakamura.
“The buyer selection process was extremely competitive and involved multiple rounds of bidding,” said Gabriel, who led the assignment. “PAG Investments has a proven track record of execution and performed as expected.”
Until recently, AIG occupied the 117,000-square-foot top floor of the three-story property. Reportedly it’s the only contiguous, single-floor availability of its size within the market.
“5 Wood Hollow is a prominent and recognizable address, and Mack-Cali has done an excellent job in maintaining the building to a higher standard than the majority of buildings within the immediate market,” DiTommaso said.
For comments, questions or concerns, please contact Paul Bubny
- ◦Sale/Acquisition
