Mack-Cali Announces Lease Transactions Totaling Over 152,000 Square Feet at Westchester 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 Westchester County, New York properties:
- United Parcel Service (NYSE: UPS), a global package delivery company, renewed its lease of 77,203 square feet for the entire building at 3 Warehouse Lane in Elmsford. Mack-Cali was represented in-house by Ivan Abry, senior director of leasing. The industrial/warehouse building is located at Elmsford Distribution Center.
- Traub Lieberman Straus & Shrewsberry, LLP, a law firm, leased 22,131 square feet at 7 Skyline Drive in Hawthorne. The lease consists of a 15,531 square-foot renewal and a 6,600 square-foot expansion. Howard Greenberg of Howard Properties, Ltd. represented the tenant and Carol McGuire, in-house senior director of leasing, represented Mack-Cali. The 109,000 square-foot class A office building, located at Mid-Westchester Executive Park, is 98.7% leased.
- Westchester Frozen Ropes, LLC, a baseball and softball training and instruction company, signed a new lease for 22,197 square feet at 300 Executive Boulevard in Elmsford. Richard Goldstein of Goldstein & Associates Realty, Inc. represented the tenant. Mack-Cali was represented in-house by Ivan Abry and Robert Montaquiza, director of leasing. The 60,000 square-foot office/flex building, located at Cross Westchester Executive Park, is 100% leased.
- C & I Collectables, Inc., a retailer of repackaged sports cards, signed a new lease for 16,033 square feet at 250 Clearbrook Road in Elmsford. Bill Anson of Anson Properties, Inc. represented the tenant and Mack-Cali was represented in-house by Ivan Abry. The 155,000 square-foot office/flex building, located at Cross Westchester Executive Park, is 97.3% leased.
- The Bronx-Lebanon Hospital Center signed a new lease for 15,352 square feet at 1 Executive Boulevard in Yonkers. Mack-Cali was represented in-house by Carol McGuire. The 112,000 square-foot office building, located at South Westchester Executive Park, is 100% 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.