--Amazon.com Inc. has dropped plans for a major office expansion in Jersey City, N.J., in a blow for landlord Mack-Cali Realty Corp., Bloomberg reports, citing people familiar with the matter.

--The deal, which had been discussed for months, fell apart after Amazon backed out at the last minute, the sources told Bloomberg, which earlier this month had reported that Amazon was close to a lease with Mack-Cali for about 400,000 square feet of space on the New Jersey waterfront.

--A representative for Mack-Cali declined to comment, while Amazon didn't immediately respond to a request for comment, Bloomberg reports.

Shares of Mack-Cali fell 3.4% to $18.78.

 

Full story: https://www.bloomberg.com/news/articles/2021-11-16/amazon-nixes-jersey-city-office-expansion-in-blow-for-landlord?sref=cvDKYV7o

 

Write to Colin Kellaher at colin.kellaher@wsj.com

 

(END) Dow Jones Newswires

November 16, 2021 12:02 ET (17:02 GMT)

Copyright (c) 2021 Dow Jones & Company, Inc.
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