BCW Member Robert Martin Company to Purchase Mack-Cali Holdings
Robert Martin Co. LLC has solidified its hold on the commercial real estate market with the purchase of 3.1 million square feet of office space in Westchester and Fairfield Counties.
The $487.5 million purchase from Mack-Cali includes 56 buildings among them Westchester Plaza, Executive Boulevard and Clearbrook Road in Elmsford, Skyline Drive in Hawthorne, and Odell Plaza, Executive Boulevard and Corporate Boulevard in Yonkers. It also includes 270,000 square feet at the Stamford Executive Park in Fairfield County, a five-building development on West Avenue, just off Interstate 95.
Tim Jones, a partner with Robert Martin Co. and its CEO, said, “This portfolio gives us a huge market share in Westchester with a product line that is currently in great demand.”
Robert F. Weinberg, who with the late Martin Berger founded Robert Martin Co., said, “The acquisition of these outstanding properties continues our legacy of innovation and market leadership.”
The company’s managing director and partner Greg Berger added, “Robert Martin Company has been firmly rooted in Westchester County for over 60 years. We know how to manage these buildings and have excellent relationships with the local communities.”
Mack-Cali, headquartered in Jersey City, has been repositioning itself to concentrate on properties in what it describes as “select waterfront and transit-oriented markets throughout the Northeast.”
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