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CushWake’s NJ Capital Markets Team Handles Sale to Mack-Cali
Cushman & Wakefield’s New Jersey capital markets team has orchestrated the sale of 99 Wood Ave. South in Iselin, NJ. Mack-Cali Realty Corporation, which in January said it was under contract to buy the 271,988-square-foot office property for $61.5 million, acquired it from a private real estate investment firm.
The building shares a parking deck with 101 Wood Ave. South, which Mack-Cali also owns, in a previous transaction also orchestrated by the New Jersey capital markets team.
Cushman & Wakefield’s Andrew Merin led the transaction with Gary Gabriel, David Bernhaut, Kyle Schmidt and Kubby Tischler. “99 Wood Ave. South’s Metropark location, directly off Exit 131A of the Garden State Parkway, just north of its intersection with the New Jersey Turnpike, enhances its appeal for both tenants and investors alike,” according to Merin.
The property is 84% leased, with a tenant roster including Citibank, Wells Fargo and Ernst & Young.
For comments, questions or concerns, please contact Paul Bubny
- ◦Sale/Acquisition
