Mack-Cali Announces New Lease at Freehold Property
08/06/2007 Category: Leasing and Development
Edison, New Jersey—August 6, 2007—Mack-Cali Realty Corporation (NYSE: CLI) today announced that Sonus Networks, Inc. has signed a new, eight-year lease for 28,462 square feet at 3 Paragon Way at Monmouth Executive Center in Freehold, New Jersey.
Sonus Networks, Inc. is a supplier of service provider Voice over Internet protocol (VoIP) infrastructure solutions. Three Paragon Way, a 66,898 square-foot office building, is 100 percent leased.
Diane Chayes, Mack-Cali vice president of leasing, commented, "We're very pleased that Sonus Networks has chosen a Mack-Cali property for its growing business. We look forward to serving its office space needs for years to come."
Charles Dillon and Christopher Conklin of The Staubach Company, New Jersey office, and Neil Ross of The Staubach Company, Boston office, represented the tenant. Mack-Cali was represented in-house by Jack Colasurdo and Erin Moran.
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 300 properties, primarily office and office/flex buildings located in the Northeast, totaling approximately 34.7 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.