Mack-Cali Announces Lease at Blue Bell Property
01/08/2008 Category: Leasing and Development
Selas Fluid Processing Corporation Renews and Expands its Headquarters
Edison, New Jersey—January 8, 2008—Mack-Cali Realty Corporation (NYSE: CLI) announced today that it has leased 35,212 square feet to Selas Fluid Processing Corporation for its headquarters at Five Sentry Parkway East in Blue Bell, Pennsylvania. The lease consists of a seven-year renewal of 30,623 square feet and an expansion of 4,589 square feet.
Selas Fluid Processing Corporation, a wholly owned subsidiary of Linde AG of Germany, is a producer of combustion and emission control systems.
John Adderly, Mack-Cali vice president of leasing, commented, "This transaction is in line with Mack-Cali's strategy of building successful, long-term relationships with our tenants. Selas has been in this building for over 20 years, and we're pleased to continue to serve its growing office space needs." Five Sentry Parkway East, a 91,600 square-foot office property, received exterior and interior renovations in 2007.
Shelley Wolf-Harris of GVA Smith Mack & Co. represented the tenant and Jake Fruncillo, director of leasing, represented Mack-Cali on the transaction.
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 294 properties, primarily office and office/flex buildings located in the Northeast, totaling approximately 33.7 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.