Mack-Cali Renews Two Tenants at Office Buildings in Woodcliff Lake, New Jersey
07/27/2006 Category: Leasing and Development
JPMorgan Chase Bank and Syncsort Renew for Over 138,000 Square Feet
Cranford, New Jersey--July 27, 2006--Mack-Cali Realty Corporation (NYSE: CLI) today announced that it has signed two lease renewals at office properties in Woodcliff Lake, New Jersey, totaling 138,009 square feet.
The leases are:
- JPMorgan Chase Bank, NA, a global financial services firm, has renewed its lease of 68,766 square feet for three years at 300 Tice Boulevard. The 230,000 square-foot class A office building is 100 percent leased. Richard Baumstein of Cushman & Wakefield of New Jersey represented the tenant and Christopher DeLorenzo, in-house vice president of leasing, represented Mack-Cali.
- Syncsort Incorporated, a developer of business intelligence and data warehousing software, signed a 10-year lease renewal for 69,243 square feet for its corporate headquarters at 50 Tice Boulevard. 50 Tice Boulevard is a 235,000 square-foot class A office building that is 100 percent leased. Michael Maroon of Acclaim represented the tenant and Christopher DeLorenzo represented Mack-Cali.
Mitchell E. Hersh, Mack-Cali president and chief executive officer, commented, "We're pleased to have these leading companies renew their office space in our portfolio. We are committed to serving our tenants' space needs on an ongoing basis, and lease renewals such as these are testament to our success."
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 302 properties, primarily office and office/flex buildings located in the Northeast, totaling approximately 34.1 million square feet. The properties enable the Company to provide a full complement of real estate opportunities to its diverse base of approximately 2,400 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.