Mack-Cali Announces Fourth Quarter Leasing Results for Suburban Philadelphia and Southern 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 211,881 square feet of leasing transactions at its Suburban Philadelphia and Southern 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.
Highlights of the fourth quarter transactions include:
- Prism Color Corporation, a printing services company, renewed its lease for 37,320 square feet at 31 Twosome Drive in Moorestown, New Jersey. The 84,200 square-foot office/flex building, located at Moorestown West Corporate Center, is 100 percent leased. Donna Bleiler, in-house director of leasing, represented Mack-Cali.
- Star Linen, Inc., a linen services provider, signed a new lease for the entire 32,700 square-foot office/flex building at 1507 Lancer Drive at Moorestown West Corporate Center. Neil Shupak of Smith Mack & Company represented the tenant and Donna Bleiler represented Mack-Cali.
- Weiler Labeling Systems, a provider of labeling machines, renewed its lease for 31,825 square feet at 1256 North Church Street at Moorestown West Corporate Center. The 63,495 square-foot office/flex property is 100 percent leased. Gerald Zimmer of CB Richard Ellis represented the tenant and Donna Bleiler represented Mack-Cali.
- Unitrin Direct Insurance Company, the automobile insurance arm of financial services provider Unitrin, signed a lease expansion of 14,015 square feet at One Plymouth Meeting in Plymouth Meeting, Pennsylvania. The firm now leases a total of 35,829 square feet at the 167,748 square-foot office building, which is 100 percent leased. Mark Gola of Gola Corporate Real Estate 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 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.