Recent Transactions (Tables)
|
3 Months Ended |
Mar. 31, 2017 |
|---|
| Real Estate Properties [Line Items] |
|
| Schedule Of Properties Acquired |
|
|
|
|
|
|
|
|
|
|
|
Acquisition
|
|
|
# of
|
Rentable
|
|
|
Acquisition
|
|
|
Date
|
Property Address
|
Location
|
Bldgs.
|
Square Feet
|
|
|
Cost
|
|
|
01/11/17
|
Red Bank portfolio (a)
|
Red Bank, New Jersey
|
3
|
279,472
|
|
$
|
27,228
|
|
|
03/06/17
|
Short Hills/Madison portfolio (b)
|
Short Hills & Madison, New Jersey
|
6
|
1,113,028
|
|
|
367,361
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Acquisitions
|
|
|
9
|
1,392,500
|
|
$
|
394,589
|
|
|
|
|
|
|
|
|
|
|
|
|
(a) This acquisition was funded through borrowings under the Company's unsecured revolving credit facility.
|
|
|
(b) This acquisition was funded through borrowings under the Company’s unsecured revolving credit facility and a new $124.5 million loan secured by three of the properties.
|
|
|
| Schedule Of Purchase Price Allocation |
|
|
|
|
|
|
|
|
|
|
Red Bank
|
|
|
Short Hills/Madison
|
|
|
|
Portfolio
|
|
|
Portfolio
|
|
Land and leasehold interest
|
$
|
7,914
|
|
$
|
30,336
|
|
Buildings and improvements and other assets
|
|
16,047
|
|
|
295,299
|
|
Above market leases (a)
|
|
118
|
|
|
6,367
|
|
In-place lease values (a)
|
|
3,171
|
|
|
45,604
|
|
|
|
27,250
|
|
|
377,606
|
|
Less: Below market lease values (a)
|
|
(22)
|
|
|
(10,245)
|
|
Net assets recorded upon acquisition
|
$
|
27,228
|
|
$
|
367,361
|
(a)Above market, in-place and below market leases are being amortized over a weighted-average term of 5.4 years.
|
| Disposal Group, Not Discontinued Operations [Member] |
|
| Real Estate Properties [Line Items] |
|
| Schedule Of Dispositions/Rental Property Held For Sale |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Realized
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Gains
|
|
|
|
|
|
|
|
Rentable
|
|
|
Net
|
|
|
Net
|
|
|
(losses)/
|
|
|
Disposition
|
|
|
# of
|
|
Square
|
|
|
Sales
|
|
|
Book
|
|
|
Unrealized
|
|
|
Date
|
Property/Address
|
Location
|
Bldgs.
|
|
Feet
|
|
|
Proceeds
|
|
|
Value
|
|
|
Losses, net
|
|
|
01/30/17
|
Cranford portfolio
|
Cranford, New Jersey
|
6
|
|
435,976
|
|
$
|
26,598
|
|
$
|
22,736
|
|
$
|
3,862
|
|
|
01/31/17
|
440 Route 22 East (a)
|
Bridgewater, New Jersey
|
1
|
|
198,376
|
|
|
10,074
|
|
|
10,069
|
|
|
5
|
|
|
02/07/17
|
3 Independence Way
|
Princeton, New Jersey
|
1
|
|
111,300
|
|
|
11,549
|
|
|
9,910
|
|
|
1,639
|
|
|
Totals
|
|
|
8
|
|
745,652
|
|
$
|
48,221
|
|
$
|
42,715
|
|
$
|
5,506
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(a) The Company recorded a valuation allowance of $7.7 million on this property during the year ended December 31, 2016.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Disposal Group, Held-for-sale, Not Discontinued Operations [Member] |
|
| Real Estate Properties [Line Items] |
|
| Summary Of Income From Property Held For Sale, Net |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
March 31,
|
|
|
|
|
2017
|
|
Land
|
|
$
|
648
|
|
Buildings and improvements
|
|
|
2,919
|
|
Less: Accumulated depreciation
|
|
|
(1,436)
|
|
Rental property held for sale, net
|
|
$
|
2,131
|
|
| Mack-Cali Realty LP [Member] |
|
| Real Estate Properties [Line Items] |
|
| Schedule Of Properties Acquired |
|
|
|
|
|
|
|
|
|
|
|
Acquisition
|
|
|
# of
|
Rentable
|
|
|
Acquisition
|
|
|
Date
|
Property Address
|
Location
|
Bldgs.
|
Square Feet
|
|
|
Cost
|
|
|
01/11/17
|
Red Bank portfolio (a)
|
Red Bank, New Jersey
|
3
|
279,472
|
|
$
|
27,228
|
|
|
03/06/17
|
Short Hills/Madison portfolio (b)
|
Short Hills & Madison, New Jersey
|
6
|
1,113,028
|
|
|
367,361
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Acquisitions
|
|
|
9
|
1,392,500
|
|
$
|
394,589
|
|
|
|
|
|
|
|
|
|
|
|
|
(a) This acquisition was funded through borrowings under the Company's unsecured revolving credit facility.
|
|
|
(b) This acquisition was funded through borrowings under the Company’s unsecured revolving credit facility and a new $124.5 million loan secured by three of the properties.
|
|
|
| Schedule Of Purchase Price Allocation |
|
|
|
|
|
|
|
|
|
|
Red Bank
|
|
|
Short Hills/Madison
|
|
|
|
Portfolio
|
|
|
Portfolio
|
|
Land and leasehold interest
|
$
|
7,914
|
|
$
|
30,336
|
|
Buildings and improvements and other assets
|
|
16,047
|
|
|
295,299
|
|
Above market leases (a)
|
|
118
|
|
|
6,367
|
|
In-place lease values (a)
|
|
3,171
|
|
|
45,604
|
|
|
|
27,250
|
|
|
377,606
|
|
Less: Below market lease values (a)
|
|
(22)
|
|
|
(10,245)
|
|
Net assets recorded upon acquisition
|
$
|
27,228
|
|
$
|
367,361
|
(a)Above market, in-place and below market leases are being amortized over a weighted-average term of 5.4 years.
|
| Mack-Cali Realty LP [Member] | Disposal Group, Not Discontinued Operations [Member] |
|
| Real Estate Properties [Line Items] |
|
| Schedule Of Dispositions/Rental Property Held For Sale |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Realized
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Gains
|
|
|
|
|
|
|
|
Rentable
|
|
|
Net
|
|
|
Net
|
|
|
(losses)/
|
|
|
Disposition
|
|
|
# of
|
|
Square
|
|
|
Sales
|
|
|
Book
|
|
|
Unrealized
|
|
|
Date
|
Property/Address
|
Location
|
Bldgs.
|
|
Feet
|
|
|
Proceeds
|
|
|
Value
|
|
|
Losses, net
|
|
|
01/30/17
|
Cranford portfolio
|
Cranford, New Jersey
|
6
|
|
435,976
|
|
$
|
26,598
|
|
$
|
22,736
|
|
$
|
3,862
|
|
|
01/31/17
|
440 Route 22 East (a)
|
Bridgewater, New Jersey
|
1
|
|
198,376
|
|
|
10,074
|
|
|
10,069
|
|
|
5
|
|
|
02/07/17
|
3 Independence Way
|
Princeton, New Jersey
|
1
|
|
111,300
|
|
|
11,549
|
|
|
9,910
|
|
|
1,639
|
|
|
Totals
|
|
|
8
|
|
745,652
|
|
$
|
48,221
|
|
$
|
42,715
|
|
$
|
5,506
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(a) The Company recorded a valuation allowance of $7.7 million on this property during the year ended December 31, 2016.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Mack-Cali Realty LP [Member] | Disposal Group, Held-for-sale, Not Discontinued Operations [Member] |
|
| Real Estate Properties [Line Items] |
|
| Summary Of Income From Property Held For Sale, Net |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
March 31,
|
|
|
|
|
2017
|
|
Land
|
|
$
|
648
|
|
Buildings and improvements
|
|
|
2,919
|
|
Less: Accumulated depreciation
|
|
|
(1,436)
|
|
Rental property held for sale, net
|
|
$
|
2,131
|
|