Mack-Cali Signs Lease With RadPharm, Inc. in Princeton
05/22/2006 Category: Leasing and Development
Growing Pharmaceutical Company Leases Approximately 43,500 Square Feet at Princeton Overlook
Cranford, New Jersey—May 22, 2006—Mack-Cali Realty Corporation (NYSE: CLI) today announced that RadPharm, Inc., a provider of medical imaging and review services, has signed a new lease for 43,486 square feet at Princeton Overlook in Princeton, New Jersey. The lease carries a term of five years.
The growing pharmaceutical company is expanding and relocating its corporate headquarters from approximately 18,600 square feet at 103 Carnegie Center in Princeton, another Mack-Cali property.
Mitchell E. Hersh, president and chief executive officer of Mack-Cali, stated, "We are pleased that RadPharm, Inc. chose to relocate within our portfolio and that we were able to meet its expansion requirements." He continued, "This transaction demonstrates Mack-Cali's ability to maintain and preserve long-standing relationships with our tenants and to accommodate their ever-evolving office space needs."
Dan Ackerman, in-house director of leasing, represented Mack-Cali in the transaction. Princeton Overlook, located at 100 Overlook Center, at Route One and Alexander Road, is a four-story, 149,600 square-foot class A office building that is 100 percent leased.
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.
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