Mack-Cali Announces $254 Million Sale of Metropark Office Portfolio, Advancing Successful Suburban Sales Strategy JERSEY CITY, N.J. , March 30, 2021 |PRNewswire| -- Mack-Cali Realty Corporation (NYSE: CLI ) today announces the sale of its Metropark portfolio, located in Edison and Iselin NJ , for $254 million to Opal Holdings. The disposition, comprising four office buildings containing 945,906 square feet, represents one of the largest suburban office transactions this year and continues to demonstrate strong execution of Mack- Cali's strategy of divesting its suburban office assets, signaling a strong start to 2021. The company plans to use the sales proceeds to pay down its unsecured corporate debt during the second quarter of 2021. "This sale marks a key milestone in our strategy to sell non-core suburban office assets, which we expect to substantially complete in the near future," said Mahbod Nia , Chief Executive Officer of Mack- Cali . "I commend the team's focus and tireless efforts to bring such a significant transaction across the finish line despite the challenges of the current environment." The portfolio, comprised of 99 and 101 Wood Avenue South and 333 and 343 Thornall Street , is …