Mack-Cali Signs Lease With Omnipoint Communications
05/24/2006 Category: Leasing and Development
Approximately 48,900 Square Feet Leased at Parsippany Office Property
Cranford, New Jersey—May 24, 2006—Mack-Cali Realty Corporation (NYSE: CLI) today announced that Omnipoint Communications, Inc., has leased 48,875 square feet at 4 Campus Drive at Mack-Cali Business Campus in Parsippany, New Jersey. The lease carries a term of eight years.
Omnipoint Communications, doing business as T-Mobile, is a provider of mobile communications services. The firm also occupies approximately 100,000 square feet at 4 Sylvan Way, a building in the Campus that was recently acquired by Mack-Cali as part of its acquisitions of The Gale Real Estate Services Company and interests in 20 New Jersey properties.
Mitchell E. Hersh, president and chief executive officer of Mack-Cali, stated, "We're pleased that we were able to accommodate Omnipoint's wishes to expand its space within Mack-Cali Business Campus." He continued, "Our recent acquisitions have increased our holdings in the Parsippany area and enhanced our ability to meet tenants' needs as their space requirements evolve."
Richard Rosenhaus of Rosenhaus Realty represented the tenant, and Jane Greenblatt, in-house senior director of leasing and development, represented Mack-Cali in the transaction.
Four Campus Drive is a 147,475 square-foot class A office building that is 95.8 percent leased. Mack-Cali Business Campus is a premier 16-building, class A office complex totaling over 2 million square feet.
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 297 properties, primarily office and office/flex buildings located in the Northeast, totaling approximately 33.6 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.