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FBC The Claman Countdown July 13, 2024

S p is down 76. We are watching all of these markets. A few things are going on right now. Investors werent impressed by the feds vow to buy an unlimited amount of Government Debt and give loans to businesses, big and small. Theres one industry that Coronavirus Crisis is impacting directly, restaurants. They are closing their doors to patrons, trying to shift to takeout only. We s ghave got the owner of a gp of restaurants who will tell us, he will say this, the restaurant recession has already started, already in effect. We know folks are out of work but how bad is it . We will find out. Theres also sharks in the water, there always are. Investors are not just looking for an edge in the selloff but advising businesses in how to survive the crisis. Weve got one of the best in this. Hes an investor, an entrepreneur, founder of fubu and the star of shark tank, daymond john ....

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BioNJ elects officers, board for 2022

BioNJ announced its 2022 board officers and trustees; elections took place before the organization's Annual Board meeting on Feb. 2. ....

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Mack-Cali Realty Corporation Sells New Jersey Offices to The Birch Group

Mack-Cali Realty Corporation Sells New Jersey Offices to The Birch Group
Posted on 04/22/2021
Nanuet, NY-based The Birch Group is a real estate investor, owner, and operator. The Birch Group acquired a US$ 255 million four-building office portfolio in Short Hills, New Jersey. The 843,300-square-foot portfolio comprises four class A office buildings in Short Hills. The office portfolio, comprising four buildings, includes 51 JFK Parkway, a 260,750-square-foot property, which is currently 86.9% leased; 101 JFK Parkway, a 197,196-square-foot property, which is currently 98.4% leased; 103 JFK Parkway, a 123,000-square-foot property, which is currently 100.0% leased; and 150 JFK Parkway, a 262,354-square-foot property which is currently 51.5% leased.
Mack-Cali Realty Corporation, a REIT, was the seller. ....

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Mack-Cali Announces $255 Million Sale of Short Hills Office Portfolio Advancing Suburban Office Sales Momentum

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JERSEY CITY, N.J., April 20, 2021 /PRNewswire/ Mack-Cali Realty Corporation (NYSE: CLI) today announces the $255 million sale of its Short Hills, New Jersey office portfolio, a four office building portfolio encompassing 843,300 square feet, to The Birch Group. The transaction releases approximately $100 million of net proceeds, after retirement of financing and transaction costs, which is expected to be used to pay down the Company s unsecured corporate debt during the second quarter of 2021.
This transaction represents yet another significant step towards simplifying our company through the disposition of suburban office properties while generating liquidity to pay down corporate debt and strengthen our balance sheet, said Mahbod Nia, Chief Executive Officer of Mack-Cali. I would like to thank the team for their hard work and commitment to closing this complex transaction expeditiously. ....

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