Mack-Cali Announces First Quarter Leasing Results for New York and Connecticut Properties
05/11/2005 Category: Leasing and Development
Cranford, New Jersey--May 11, 2005--Mack-Cali Realty Corporation (NYSE: CLI) today announced it has completed 227,329 square feet of leasing transactions at its New York and Connecticut properties during the first quarter. Company-wide, Mack-Cali leased 1,336,037 square feet of space during the quarter.
Highlights of the first quarter transactions include:
- The Artina Group, Inc., a manufacturer of software compatible forms for business printing, leased 26,471 square feet at 250 Clearbrook Road in Elmsford, New York. The transaction consists of a renewal of 22,141 square feet and of an expansion of 4,330 square feet. The 155,000 square-foot office/flex building, located at Cross Westchester Executive Park, is 97.3 percent leased. Jeffrey Warner, in-house managing director of leasing, represented Mack-Cali.
- Conri Services, Inc., a fulfillment and shipping and mailing service, renewed its lease for 20,255 square feet at 250 Clearbrook Road. Louis Amalfitano, in-house director of leasing, represented Mack-Cali.
- Nationwide Mutual Insurance Company, an insurance and financial services provider, leased 17,592 square feet at 565 Taxter Road in Elmsford, New York. The transaction consists of a 16,362 square-foot renewal and an expansion of 1,230 square feet. The 170,554 square-foot class A office building is 90.1 percent leased. William Cuddy, Dean Mayfield and Budd Weisenberg of CB Richard Ellis, Inc. represented the tenant and Jeffrey Warner represented Mack-Cali.
- York International Corp., a supplier of heating, ventilation, air conditioning and refrigeration products, signed a new lease for 13,872 square feet at 5 Skyline Drive in Hawthorne, New York. The 124,022 square-foot office/flex building, located at Mid- Westchester Executive Park, is 91.7 percent leased. Amy Lerner of Ambar Realty Group LLC represented the tenant and Louis Amalfitano represented Mack-Cali.
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 currently owns or has interests in 270 properties, primarily office and office/flex buildings located in the Northeast, totaling approximately 30.4 million square feet. The properties enable the Company to provide a full complement of real estate opportunities to its diverse base of approximately 2,100 tenants. Additional information on Mack-Cali Realty Corporation is available on the Company's website at www.mack-cali.com.
Statements made in this press release may be forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements can be identified by the use of words such as "may," "will," "should," "expect," "anticipate," "estimate," "continue," or comparable terminology. Such forward-looking statements are inherently subject to certain risks, trends and uncertainties, many of which the Company cannot predict with accuracy and some of which the Company might not even anticipate, and involve factors that may cause actual results to differ materially from those projected or suggested. Readers are cautioned not to place undue reliance on these forward-looking statements and are advised to consider the factors listed above together with the additional factors under the headings "Disclosure Regarding Forward- Looking Statements" and "Risk Factors" in the Company's Annual Reports on Form 10-K. The Company assumes no obligation to update or supplement forward-looking statements that become untrue because of subsequent events, new information or otherwise.