Mack-Cali Signs Leases Totaling Over 260,000 Square Feet at New Jersey Properties
12/13/2000 Category: Leasing and Development
Tenants Include Ford Motor Company, Lucent Technologies, Avaya, and Allstate Insurance
CRANFORD, NEW JERSEY—December 13, 2000—Mack-Cali Realty Corporation (NYSE:CLI) today announced it has signed six leases totaling over 260,000 square feet at its New Jersey office properties.
--Ford Motor Company, the world's second largest manufacturer of cars and trucks, has signed a five-year, 96,053 square-foot lease renewal at 200 Riser Road in Little Ferry, New Jersey. 200 Riser Road, a 286,628 square-foot office property adjacent to Teterboro Airport, is 100% leased.
--Avaya, Inc., the former enterprise group of Lucent Technologies, has signed a new 10-year lease for the entire building at 233 Mt. Airy Road in Basking Ridge, New Jersey. 233 Mt. Airy Road is a 66,000 square-foot class A office property.
--Aspen Technology, Inc., an integrated solutions provider, has signed a new 10-year, 41,712 square-foot lease at 890 Mountain Avenue in New Providence, New Jersey. 890 Mountain Avenue, an 80,000 square-foot office property, is 95% leased.
--Allstate Insurance, a property and casualty insurance company, has signed a five-year, 22,444 square-foot lease renewal at 65 Jackson Drive in Cranford, New Jersey. 65 Jackson Drive, an 82,778 square-foot office property, is 100% leased.
--Lucent Technologies, Inc., a leading designer, developer and manufacturer of communications systems and products, has signed a new five-year, 18,302 square-foot lease at 300 Horizon Center in Hamilton Township, New Jersey. 300 Horizon Center, a 69,780 square-foot office/flex property, is 100% leased.
--GEAC Computers, Inc., a supplier of software and systems solutions, has signed a four-year, 16,170 square-foot lease renewal at 1340 Campus Parkway within Monmouth Shores Corporate Park in Wall Township, New Jersey. 1340 Campus Parkway, a 72,502 square-foot office/flex property, is 100% leased.
Mitchell E. Hersh, chief executive officer of Mack-Cali, stated, "These leases demonstrate our ability to serve the real estate needs of leading global companies, as well as our strength in our core Northeast markets."
Mack-Cali Realty Corporation is a fully-integrated, self-administered, self-managed real estate investment trust (REIT) providing management, leasing, development, construction and other tenant-related services for its class A real estate portfolio. Mack-Cali owns or has interests in 267 properties, primarily office and office/flex buildings located in the Northeast, totaling approximately 28.2 million square feet. The properties enable the Company to provide a full complement of real estate opportunities to its diverse base of over 2,400 tenants.
Additional information on Mack-Cali Realty Corporation is available on the Company's website at www.mack-cali.com.
Certain information discussed in this press release may constitute forward-looking statements within the meaning of the Federal Securities law. Although the Company believes that the expectations reflected in such forward-looking statements are based upon reasonable assumptions, it can give no assurance that its expectations will be achieved. Forward-looking information is subject to certain risks, trends and uncertainties that could cause actual results to differ materially from those projected. Among those risks, trends and uncertainties are the general economic climate; the supply of and demand for office, office/flex and industrial/warehouse properties; interest rate levels; the availability of financing; and other risks associated with the development and acquisition of properties, including risks that the development may not be completed on schedule, that the tenants will not take occupancy or pay rent, or that development or operating costs may be greater than anticipated. For further information on factors which could impact the Company and the statements contained herein, reference should be made to the Company's filings with the Securities and Exchange Commission including quarterly reports on Form 10-Q, current reports on Form 8-K, and annual reports on Form 10-K.