News: Brokerage

Mack-Cali Realty Corp. arranges 100,274 s/f lease expansion to BTMU

According to Mack-Cali Realty Corp., The Bank of Tokyo-Mitsubishi UFJ, Ltd. (BTMU), a subsidiary of Mitsubishi UFJ Financial Group, has signed a 17-year, 3-month 100,274 s/f expansion lease at Harborside Financial Center, bringing the bank's total leased space to 261,957 s/f. The expansion lease is for space at the 725,600 s/f Harborside Plaza 3. Harborside Financial Center is a "city within a city," comprised of five class A office buildings totaling 3.1 million s/f, retail shops, a variety of dining options, planned multifamily rental towers, and land—providing an ideal development opportunity. The complex is currently 97.3% leased. The tenant was represented in the transaction by Fred Smith and Curtis Foster of Cushman & Wakefield. Mitchell Hersh, Mack-Cali president and chief executive officer, said, "We are delighted that The Bank of Tokyo-Mitsubishi continues to expand its presence at this premier waterfront complex. This transaction demonstrates our ability to build long-term relationships with leading global businesses."
READ ON THE GO
DIGITAL EDITIONS
Subscribe
Columns and Thought Leadership
The death of the generic offering memorandum: What buyers expect in 2025 - by Kimberly Zar Bloorian

The death of the generic offering memorandum: What buyers expect in 2025 - by Kimberly Zar Bloorian

There was a time when an offering memorandum (OM) was pretty bare bones, some photos, a few bullet points on income, and a rent roll thrown in at the back. That used to get the job done. Not anymore. In 2025, buyers are sharper, faster, and more selective. They’re looking
A fresh start - by Shallini Mehra and Amit Doshi

A fresh start - by Shallini Mehra and Amit Doshi

For the past several years, the New York City multifamily housing market has been defined by disruption. The combined impact of the HSTPA rent laws and a sharply higher interest rate environment has fundamentally reduced
Tri-state capital  migrates nationally amid  regulation pressure - by Reese Weaver

Tri-state capital migrates nationally amid regulation pressure - by Reese Weaver

New York tri-state multifamily investors are increasingly reallocating capital to less-regulated markets across the U.S. as rent control and legislative risk erode returns at home. With over 60% of New York City’s rental housing stock classified as rent-stabilized, the traditional value-add model — buying under-performing buildings,

The anticipated effect of Basel III and ISO 20022 implementation on commercial real estate - by Michael Zysman

The anticipated effect of Basel III and ISO 20022 implementation on commercial real estate - by Michael Zysman

July 1, 2025 is the deadline for US banks to begin to adopt Basel III banking standards and July 14, 2025 is the deadline for U.S. banks to adopt ISO 20022 messaging standards. Both will have a significant effect on the banking and commercial real estate (CRE) finance sectors.