Moody's Expansion Brings Mack-Cali Harborside Building to Over 90% Leased
06/21/2005 Category: Leasing and Development
Cranford, New Jersey—June 21, 2005—Mack-Cali Realty Corporation (NYSE: CLI) today announced that Moody's Investors Service has expanded its space by 36,193 square feet at Harborside Financial Center Plaza 5 in Jersey City, New Jersey, bringing the building to 91.3% leased.
Moody's Investors Service, a subsidiary of Moody's Corporation (NYSE: MCO), now leases 79,537 square feet at the 980,000 square-foot class A office tower.
Mitchell E. Hersh, president and chief executive officer of Mack-Cali, commented, "This transaction not only represents an important milestone in the leasing of this premier office tower, it also demonstrates Mack-Cali's ability to build successful long- term relationships with its tenants."
Augustus Field of Cushman & Wakefield represented the tenant and Mark Ravesloot of CB Richard Ellis and Jane Greenblatt, in- house senior director of leasing and development, represented Mack-Cali.
Also at Harborside Plaza 5, Dieca Communications, Inc., a provider of broadband communications services, signed a new lease for 6,278 square feet. Edwards Duenas and Pamela Walsh of Cushman and Wakefield and Scott Churchley of Liberty-Greenfield represented the tenant and Mark Ravesloot and Jane Greenblatt represented Mack-Cali.
The following leases were also announced by Mack-Cali:
- Casio, Inc., the U.S. subsidiary of Casio Computer Co., Ltd., renewed its lease for 96,000 square feet at Mack-Cali Airport in Little Ferry. The 286,628 square-foot office building, located at 200 Riser Road, is 95.4% leased. Andrew Schiffer and James Yamauchi of Cushman and Wakefield of New Jersey represented the tenant and John Donnelly, in-house director of leasing, represented Mack-Cali.
- Bisys—RK Alternative Investment Services, Inc., a hedge fund services provider, signed a new lease for 60,821 square feet at 105 Eisenhower Parkway in Roseland. The 220,000 square-foot class A office building, located at Eisenhower/280 Corporate Center, is 80.6% leased. Christopher Marx and Bill Ray from USI Real Estate represented the tenant and Diane Chayes, in-house managing director of leasing, 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 267 properties, primarily office and office/flex buildings located in the Northeast, totaling approximately 29.9 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.