New York & Tri-State + New Jersey + Office | April 21, 2021

Birch Group Acquires Short Hills Portfolio from Mack-Cali for $255M

Mack-Cali Realty Corporation closed the $255-million sale of its New Jersey Short Hills office portfolio, a four- building office portfolio encompassing 843,300 square feet, to The Birch Group. The transaction releases approximately $100 million of net proceeds.

“This transaction represents yet another significant step towards simplifying our company through the disposition of suburban office properties,” said Mahbod Nia, CEO of Mack-Cali.

The portfolio includes 51, 101, 103 and 150 JFK Parkway in Short Hills, NJ. The Birch Group has hired Gensler for design enhancements.

Cushman & Wakefield’s David Bernhaut said, “This is a fantastic acquisition for The Birch Group, which has been one of the most active buyers across the Tri-State Region, and we are thrilled to once again execute on a milestone transaction for Mack-Cali.” Bernhaut led the assignment alongside Andy Merin, Gary Gabriel, Frank DiTommaso and Seth Zuidema, in conjunction with Adam Spies and Kevin Donner.

Pictured: 150 JFK Pkwy.

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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