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home / news releases / CLI - Mack-Cali stock slides after Amazon fails to sign lease in Jersey City

CLI - Mack-Cali stock slides after Amazon fails to sign lease in Jersey City

Mack-Cali Realty Corporation
Mack-Cali (NYSE:CLI) stock drops 3.0% after a report that Amazon (NASDAQ:AMZN) decided not to rent ~400K square feet on space from the office REIT in Jersey City, New Jersey. Early in November, Bloomberg reported that the e-commerce giant was close to signing a lease for the space at Harborside 1. The deal fell apart at the last minute, people familiar with the matter told Bloomberg. The development deals a blow to the New Jersey office market. In Q3, the market's availability rate stood at 19%, the highest since 2005, Bloomberg said, citing brokerage Avison Young. In September, Office REIT stocks made some headway after Google's $2.1B deal in New York City.

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Mack-Cali stock slides after Amazon fails to sign lease in Jersey City
Stock Information
Company Name: Mack-Cali Realty Corporation
Stock Symbol: CLI
Market: NYSE
Website: mack-cali.com
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