Mack-Cali Signs Lease With Pennsylvania Attorney General's Office
05/05/2006 Category: Leasing and Development
State Leases Approximately 33,000 Square Feet at Suburban Philadelphia Building
Cranford, New Jersey—May 5, 2006—Mack-Cali Realty Corporation (NYSE: CLI) today announced that the Office of the Attorney General of the Commonwealth of Pennsylvania has signed a new lease for 32,933 square feet at 1000 Madison Avenue in Lower Providence, Pennsylvania. The lease carries a term of 10 years and six months.
Mitchell E. Hersh, president and chief executive officer of Mack-Cali, stated, "We're delighted that the Attorney General's Office has chosen a Mack-Cali building for its office relocation." He continued, "1000 Madison Avenue is the premier office property in this submarket, and the transaction demonstrates our firm commitment to building value by securing long-term leases with high credit-quality tenants."
Paul Wolfson and Adam Shute of NAI Geis Realty acted as brokers and assisted both parties in the transaction. John Adderly, in-house regional director, represented Mack-Cali. 1000 Madison Avenue is a 100,700 square-foot class A office building.
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 277 properties, primarily office and office/flex buildings located in the Northeast, totaling approximately 30.9 million square feet. The properties enable the Company to provide a full complement of real estate opportunities to its diverse base of approximately 2,300 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.