Mack-Cali Leases Over 67,700 Square Feet To Alpharma Inc. For Its Headquarters
11/09/2006 Category: Leasing and Development
Pharmaceutical Firm Leases a Full Floor at New Jersey Office Building
Edison, New Jersey—November 9, 2006—Mack-Cali Realty Corporation (NYSE: CLI) today announced that Alpharma Inc. (NYSE: ALO) has signed a new lease for 67,747 square feet at One Grande Commons in Bridgewater, New Jersey.
Alpharma Inc., a global specialty pharmaceutical company, will relocate its headquarters to the building from its current location in Fort Lee, New Jersey. One Grande Commons, a 198,376 square-foot class A office building located at 440 Route 22 East, is 91.4% leased.
Mitchell E. Hersh, president and chief executive officer of Mack-Cali, commented, "We're delighted that Alpharma has chosen One Grande Commons for its headquarters relocation. This transaction demonstrates Mack-Cali's firm commitment to building value by securing long-term leases with high credit-quality tenants." Ron Ganter and Tom Giannone of Cushman & Wakefield represented the tenant and Diane Chayes, in-house vice president 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 35.8 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.