Mack-Cali Realty Corp. has sold a pair of downtown White Plains office buildings on Barker Avenue in separate deals totaling $16 million, according to Westfair.
County property records show the six-story, 68,000-square-foot 1 Barker Ave. office building sold for $9.3 million. The deed was recorded Sept. 13. The same day, a separate deed recorded the $6.7 million sale of the six-story, 65,300-square-foot building at 3 Barker Ave., Westfair said in this report.
The buyers are two separate LLCs — 1 Barker Ave. LLC and 3 Barker Ave. LLC — that share an address in Spring Valley. The properties will be managed by Spring Valley’s Exclusive Management.
Exclusive Management last year applied to the White Plains Common Council, along with Street-Works Development, for approval of a residential and retail redevelopment proposal for the 3-acre White Plains Mall property on Hamilton Avenue across the street from the Barker Avenue buildings.
The latest Mack-Cali sale follows an $83 million deal where the company sold the Westchester Financial Center, two office buildings comprising about 570,000 square feet on Main Street and Martine Avenue in White Plains.
The buyers, Ginsburg Development Cos. with Robert Martin Co., plan to convert the site into a mix of apartments, green space, restaurants, retail and renovated offices.
The Barker Avenue and Westchester Financial Center deals effectively mark the end of Mack-Cali’s two-decade presence in the White Plains office market. The Edison, NJ., based company also is pursuing a residential conversion of its final White Plains office holding at 1 Water St., according to Westfair.
Mack-Cali’s holdings in Westchester County include the Cross Westchester Executive Park flex office space in Elmsford; warehouse and distribution space at the Elmsford Distribution Center; flex-space at the Mid-Westchester Executive Park in Hawthorne and office space at the South Westchester Executive Park in Yonkers.
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