Brinker Capital Expands Space at Mack-Cali Property in Berwyn
10/26/2006 Category: Leasing and Development
Cranford, New Jersey—October 26, 2006—Mack-Cali Realty Corporation (NYSE: CLI) today announced that Brinker Capital, Inc., has leased 32,469 square feet at 1055 Westlakes Drive in Berwyn, Pennsylvania. The lease consists of a 12,869 square-foot expansion for 10 years and a 19,600 square-foot lease extension of three years and eight months.
Brinker Capital, Inc., is an investment consulting firm. 1055 Westlakes Drive, a 118,487 square-foot, class A office building located at Westlakes Office Park, is 96.8 percent leased.
John Adderly, Mack-Cali vice president of leasing, commented, "This recommitment and significant expansion by Brinker Capital is positive news. We're pleased that we were able to meet the growing office space needs of such a valued tenant."
Scott M. Miller of CB Richard Ellis represented the tenant and Jake Fruncillo, in-house 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 320 properties, primarily office and office/flex buildings located in the Northeast, totaling approximately 35.9 million square feet. The properties enable the Company to provide a full complement of real estate opportunities to its diverse base of approximately 2,600 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," "plan," "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.