8B — November 13 - December 10, 2020 — Central New Jersey — M id A tlantic Real Estate Journal


C entral NJ

American Equity Partners purchases 100,000 s/f, class A office building for $7.5M Cardoso of Mack-Cali Realty Corporation leads sale of 5 Vaughn Drive in Princeton, NJ P re-focus on our core assets, including Harborside and multifamily assets across the region.”

demic could have presented,” Gilmartin added. “I commend everyone on the team for get- ting yet another transaction over the finish line.” Last month the company an- nounced the completion of the Phase 1 sale of its Parsippany and Giralda Farms portfolio, comprising 11 buildings in Morris County for a total of $167.6 million. In addition, the Company has closed on the sale of its 325 Columbia Turn- pike asset in Florham Park, NJ for $25.8 million, as well as the first asset of its Phase II sales tranche of its Parsip- pany and Giralda portfolio, 9 Campus Dr. in Parsippany, NJ for $21.0 million. MAREJ Weiss Realty announces new leases at Colonial Village Office Park and Shoppes in Edison, NJ MOONACHIE, NJ — Mat- thew Weiss , executive vice president of Weiss Realty and Colonial Village Shoppes and Office Park’s leasing and man- aging agent has announced that Brooklyn Boys Pizza and Deli and tutoring center C2 Education have extended their respective leases and the sign- ing of two new leases that include 1,330 s/f with therapy counseling company Thrive Behavioral Health and Yajaira Salon & Spa who leased 2,640 s/f of retail space. The highly popular Brooklyn Boys Pizza and Deli, a long time tenant and voted the #2 “Best Pizza in all of New Jer- sey” extended their 1,630 s/f lease. C2 Education, the highly respected education service for subject tutoring, test prep and college admissions ser- vices that has been serving the Edison community for over 17 years also extended their 2,173 s/f lease. The newly signed leases have an aggregate rental of over $2 million. MAREJ Shown from left: Tony and Ed- die Hani of Brooklyn Boys Pizza with Jaime Weiss, president of Weiss Realty.

RINCETON, NJ — Mack-Cal i Real ty Co r p o r a t i o n a n - nounced that it has completed the sale of 5 Vaughn Dr. in Princeton, NJ to American Equity Partners for a total of $7.5 million. “We continue to make great progress on our divestment strategy, which includes shed- ding suburban assets and fortifying our balance sheet,” said MaryAnne Gilmartin , Board Chair and InterimChief Executive Officer of Mack-Cali Realty Corporation. “We will remain diligent in our efforts to reduce corporate debt and

5 Vaughn Dr. is a nearly 100,000 s/f, class A office build- ing within the PrincetonMetro Center complex, which is 30% leased. The complex is well- located, close to downtown Princeton and adjacent to the train station. The deal was led by Ricar- do Cardoso , EVP and chief investment officer. “Ricardo and his team have done a fantastic job advancing our suburban disposition strategy, despite any obstacles the pan-

5 Vaughn Drive

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