Mack-Cali Announces Lease With GSA For 114,286 Square Feet at D.C. Building
07/18/2005 Category: Leasing and Development
Cranford, New Jersey—July 18, 2005—Mack-Cali Realty Corporation (NYSE: CLI) today announced that the U.S. General Services Administration (GSA) has signed a new lease for 114,286 square feet at 1400 L Street N.W. in Washington, D.C. The lease carries a term of 10 years.
Mitchell E. Hersh, president and chief executive officer of Mack-Cali, commented, "We're pleased to continue to build on our relationship with the GSA, which has been a tenant in our portfolio for nine years."
1400 L Street, a 159,000 square-foot class A office building, is 91.3 percent leased. Mack-Cali was represented by Brian Raher and Susan Thomas of Cushman & Wakefield of Washington, D.C., Inc.; and in-house by Mack-Cali's Michael Grossman, executive vice president, and Michael Nevins, vice president of leasing.
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.