Mack-Cali Realty Corporation, owner, manager and developer of premier office and multifamily properties, announced it has invested $50 million to significantly upgrade its portfolio of office properties in certain transit-oriented suburbs of New Jersey.
To be completed over the course of the next year, the capital improvement initiative involves a comprehensive renovation of building exteriors, installation of state-of-the-art amenities, and modernization of common areas in properties throughout Parsippany, Short Hills, Metro Park, and Red Bank.
Included in Mack-Cali’s improvement plans are:
“While state-of-the-art facilities are a ‘must’ in today’s office market, our strategy of catering to the evolving needs of the modern tenant is about much more than just improving the physical infrastructure of a building,” said Michael DeMarco, CEO of Mack-Cali. “It also means setting the stage with next-level amenities. With this capital improvement program, we’re upgrading every touchpoint of the tenant experience – from what they see when they first walk into the building’s lobby, to where and what they eat for lunch, and how they work out in the afternoon.”
Mack-Cali has retained a world-class group of architects to execute the various renovations, including HLW International, Studio 1200, Rotwein + Blake, and Joshua Zinder.
The properties included in the capital improvement plan include:
The company’s suburban capital improvement program comes on the heels of the recent announcement of its $75-million effort to transform Harborside, an assortment of class A mixed-use buildings on the Jersey City waterfront, into a vibrant, 24/7 cultural district.
“Throughout our entire portfolio, we’re executing an aggressive strategy to create truly great places to work and live for decades to come,” DeMarco said.Related Articles: