Mack-Cali Announces Leases With Cingular Wireless For Over 456,000 Square Feet
07/15/2005 Category: Leasing and Development
Cranford, New Jersey--July 15, 2005--Mack-Cali Realty Corporation (NYSE: CLI) today announced that New Cingular Wireless PCS LLC, a subsidiary of Cingular Wireless, has signed leases totaling 456,190 square feet at three New Jersey office properties.
The leases consist of:
- A renewal for the entire 259,823 square-foot class A office building at Mack-Cali Centre VII at 15 East Midland Avenue in Paramus. The lease carries a term of six years and nine months.
- A 123,982 square-foot renewal for six years and nine months at Mack-Cali Centre III in Paramus. The 239,680 square-foot class A office building, located at 140 East Ridgewood Avenue, is 100 percent leased.
- A new lease for 72,385 square feet for eight years and seven months at 5 Wood Hollow Road in Parsippany. The 317,040 square-foot class A office building is 100 percent leased.
In each transaction, Michael Morrone and Peter Yannotta of the Equis Corp. represented the tenant and Michael A. Grossman, Mack-Cali executive vice president, represented Mack-Cali.
Mitchell E. Hersh, president and chief executive officer of Mack-Cali, commented, "We're pleased to be able to accommodate Cingular Wireless's office space needs as its business expands, and look forward to building on our relationship for years to come."
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.