Mack-Cali Announces Fourth Quarter Leasing Results for Northern and Central New Jersey Properties
02/28/2006 Category: Leasing and Development
Cranford, New Jersey—February 28, 2006—Mack-Cali Realty Corporation (NYSE: CLI) today announced it has completed 553,681 square feet of leasing transactions at its Northern and Central New Jersey properties during the fourth quarter. Company-wide, Mack-Cali leased over 1.1 million square feet of space during the quarter, and over 5.6 million square feet during the year.
Fourth quarter transactions already announced during the quarter include leases at Harborside Financial Center in Jersey City with Sumitomo Mitsui Banking Corporation, for 71,153 square feet, and Fred Alger & Company, for 37,785 square feet.
Other highlights of fourth quarter transactions include:
- Deutsche Bank, a financial service provider, extended its lease for 90,000 square feet at Harborside Financial Center Plaza 1 in Jersey City. The 400,000 square-foot building, which recently received extensive modernizations, is located at Harborside Financial Center on the Jersey City waterfront. The 3.1 million square-foot class A office complex is 91.0 percent leased. Christopher DeLorenzo, in-house vice president of leasing, represented Mack-Cali.
- National Union Fire Insurance Company of Pittsburgh, PA, a subsidiary of The American International Group, Inc., expanded by 38,507 square feet at 101 Hudson Street in Jersey City. The firm now leases 317,799 square feet in the 1.25 million square-foot class A office tower, which is 99.5% leased. Lewis Miller, Andrew Sussman and Craig Eisenhardt of CB Richard Ellis represented the tenant and Thomas Savoca, in-house director of leasing, and Christopher DeLorenzo represented Mack-Cali.
- Paychex North America, Inc., a payroll services provider, leased 30,156 square feet at 30 Knightsbridge Road in Piscataway. 30 Knightsbridge Road is a 680,350 square-foot office complex that is 66.8 percent leased. Michael Maroon of The Acclaim Group, LLC represented the tenant and Diane Chayes, in-house vice president of leasing, represented Mack-Cali.
- Groundwater/Environmental Services, Inc., an environmental consulting and contracting firm, leased 30,070 square feet at 1340 Campus Parkway at Monmouth Shores Corporate Park in Wall Township. The transaction is a renewal of 24,200 square feet and an expansion of 5,870 square feet. 1340 Campus Parkway is a 100 percent leased, 72,502 square-foot office/flex building. Peter Yannotta and Bryan Lisowski of Equis Corporation represented the tenant and Diane Chayes represented Mack-Cali.
- Lee Hecht Harrison, a career management and consulting services provider, renewed leases for 22,336 square feet at 50 Tice Boulevard in Woodcliff Lake. The 235,000 square-foot, class A office building is 100 percent leased. Barry Saywitz of The Saywitz Company represented the tenant and Christopher DeLorenzo 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 270 properties, primarily office and office/flex buildings located in the Northeast, totaling approximately 30 million square feet. The properties enable the Company to provide a full complement of real estate opportunities to its diverse base of approximately 2,200 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," "plan," "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.