Mack-Cali Announces Leases of 89,710 Square Feet with Data Center/Business Continuity Firm
12/03/2007 Category: Leasing and Development
Xand Corporation Renews and Expands at Mid-Westchester Executive Park
Edison, New Jersey—December 3, 2007—Mack-Cali Realty Corporation (NYSE: CLI) announced today that it has leased 89,710 square feet to Xand Corporation at Mid-Westchester Executive Park in Hawthorne, New York.
The transactions consist of:
- A three-year, 46,078 square-foot lease extension for the entire office/flex building at 11 Skyline Drive, extending the term to 10 years and nine months; and
- A new 10-year, nine-month lease for 43,632 square feet at 17 Skyline Drive. This lease brings the 85,000 square-foot class A office building to 100% leased.
Xand Corporation, a provider of data center infrastructure and business continuity solutions, has undergone several expansions since it became a Mack-Cali tenant in 1990.
Mitchell E. Hersh, Mack-Cali president and chief executive officer, commented, "This transaction is in line with our strategy of building successful, long-term relationships with our tenants. We are very pleased that as Xand's space needs have grown, it has chosen to expand within this leading Mack-Cali business park."
Carol McGuire, senior director of leasing, represented Mack-Cali on the transaction.
About Xand Corporation
Founded in 1990, Xand Corporation is a facilities-based provider of data center infrastructure and business continuity solutions to financial services and mid-sized corporations. Xand Corporation offers complete, end-to-end solutions including application and server hosting, security, data storage, systems engineering, network operations, Internet connectivity, and business continuity office suites. Xand maintains a 30,000 sq-ft Internet Data Center at its headquarters 30 miles north of Manhattan, as well as several locations at the major carrier hotels. Each of these sites is connected by a diversely routed, privately owned and operated fiber optic backbone. Staffed by expert technicians and engineers, Xand is able to provide comprehensive, managed, mission-critical business solutions.
About Mack-Cali Realty Corporation
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.