Mack-Cali Announces Lease Transactions Totaling Over 137,800 Square Feet at New Jersey Properties
10/31/2007 Category: Leasing and Development
Edison, New Jersey—October 31, 2007—Mack-Cali Realty Corporation (NYSE: CLI) today announced the following leases at its New Jersey office properties:
- Diagnostica Stago, Inc., a provider of hemostasis products, leased 41,501 square feet at 5 Century Drive in Parsippany. The lease consists of a 17,470 square-foot renewal and a 24,031 square-foot expansion. Richard Charles of CB Richard Ellis represented the tenant and Daniel Ackerman, in-house senior director of leasing, represented Mack-Cali. The 79,739 square-foot office building, located at Mack Cali Business Campus, is 97.3% leased.
- DSV Air & Sea, Inc., a division of the global transport company DSV, renewed its lease of 25,565 square feet at 100 Walnut Avenue in Clark. Toni Casiano, in-house senior director of leasing, represented Mack-Cali. The 182,555 square-foot class A office building is 89.1% leased.
- HQ Global Workplaces, LLC, a provider of temporary office suites, signed a new lease for 21,008 square feet at Mack-Cali Centre III at 140 East Ridgewood Avenue in Paramus. Kurt A. Burdack and Carolyn Sica of CB Richard Ellis's New Jersey office and Michael Kay and Steven Rigby of CB Richard Ellis's Dallas office represented the tenant. Mack-Cali was represented in house by Christopher DeLorenzo, vice president of leasing. The 239,680 square-foot building is 88.9% leased.
- Untracht Early Management, Inc., an accounting firm, leased 20,480 square feet at 325 Columbia Turnpike in Florham Park. The lease consists of a renewal of 10,687 square feet and an expansion of 9,793 square feet. James Sousa of Weichert Commercial Brokerage, Inc. represented the tenant. Mack-Cali was represented in-house by Jane Greenblatt, senior director of leasing and development. The 168,144 square-foot class A office building is 99.4% leased.
- SetFocus, LLC, a computer training/placement provider, leased 15,673 square feet at 4 Century Drive in Parsippany. The lease consists of a renewal of 8,696 square feet and an expansion of 6,977 square feet. Christopher Marx, Joseph Messina and Gregg Najarian of Studley represented the tenant. Mack-Cali was represented in-house by Jane Greenblatt. The 100,036 square-foot office building, located at Mack-Cali Business Campus, is 78.9% leased.
- National Stock Exchange, Inc., an all-electronic stock exchange, signed a new lease for 13,588 square feet at 101 Hudson Street in Jersey City. Jerry J. Nichilo of National Realty Advisors represented the tenant and Thomas Savoca, in-house senior director of leasing, represented Mack-Cali. The 1.25 million square-foot class A office building is 93.0% 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 owns or has interests in 302 properties, primarily office and office/flex buildings located in the Northeast, totaling approximately 34.9 million square feet. The properties enable the Company to provide a full complement of real estate opportunities to its diverse base of approximately 2,200 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," "plan," "should," "expect," "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 heading "Disclosure Regarding Forward-Looking Statements" and "Risk Factors" in the Company's Annual Reports on Form 10-K, as may be supplemented or amended by the Company's Quarterly Reports on Form 10-Q, which are incorporated herein by reference. The Company assumes no obligation to update or supplement forward-looking statements that become untrue because of subsequent events, new information or otherwise.