Summary
AT&T's maneuvers led to one of the state's biggest real estate transactions of 2004. For starters, Mack-Cali Realty of Cranford paid $12.9 million to acquire five AT&T buildings in prime locations and lease them back to the long-distance company. In addition, Mack-Cali obtained an AT&T lease extension on another building and assumed AT&T's lease obligations on seven other buildings.
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Extract
The Party's Just Getting Started
As the economy gathered strength last year, U.S. companies realigned themselves by consolidating, downsizing and teaming up with rivals. Deal makers in New Jersey saw tectonic shifts in the telecommunications, pharmaceutical, real estate and utilities industries.
The momentum has carried into 2005 and even accelerated. Major deals current...See the full content of this document
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