Mack-Cali Sells Red Bank Office Portfolio for $84 Million JERSEY CITY, N.J. , June 14, 2021 |PRNewswire| -- Mack-Cali Realty Corporation (NYSE: CLI ) today announces the $84 million sale of River Centre, a 639,490 square foot office portfolio in Red Bank, New Jersey to First Mile Properties, the suburban affiliate of Crown Acquisitions of New York . River Centre is Mack- Cali''s last suburban office portfolio, and its sale is another significant step in the company''s pursuit of simplification. The proceeds will be used towards repayment of the Company''s term loan. The Class A office complex is comprised of six buildings, one of which was recently renovated into dedicated amenity space complete with a state-of-the-art fitness center, a tenant lounge, café and outdoor area. The portfolio is currently 66% leased. "The sale of River Centre marks another important milestone and takes us one step closer to successfully completing the disposition of our suburban office portfolio," said Mahbod Nia , Chief Executive Officer of Mack- Cali . "We remain focused on concluding the remaining asset sales to meet our objectives of streamlining the business, strengthening our balance