Mack-Cali Announces Lease for 117,118 Square Feet at New Jersey Building
09/20/2005 Category: Leasing and Development
-Lease Signed with AIG Subsidiary-
Cranford, New Jersey—September 20, 2005—Mack-Cali Realty Corporation (NYSE: CLI) today announced that American Home Assurance Company, a subsidiary of the American International Group, Inc., has leased 117,118 square feet at 5 Wood Hollow Road in Parsippany, New Jersey. The lease carries a term of 13 years.
5 Wood Hollow Road, a 317,040 square-foot class A office building, is 100% leased.
Mitchell E. Hersh, president and chief executive officer of Mack-Cali, commented, "We're very pleased to have been able to capitalize on our relationship with AIG to secure such a valuable long-term lease with this leading company."
Joseph Sarno and Jeremy Neuer of Cushman & Wakefield represented the tenant.
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 271 properties, primarily office and office/flex buildings located in the Northeast, totaling approximately 30.2 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.