Mack-Cali Announces Lease Extension and Expansion at Princeton Corporate Center
11/24/2008 Category: Leasing and Development
Thomson Inc. Now Leases Entire Building
Edison, New Jersey—November 24, 2008—Mack-Cali Realty Corporation (NYSE: CLI) today announced that Thomson Inc. has extended the term of its existing 62,543 square-foot lease at 2 Independence Way at Princeton Corporate Center, Princeton, New Jersey. In addition, the company has agreed to lease the building's remaining 4,858 square feet.
Thomson Inc., a leading provider of video solutions to the communications, media and entertainment industries, will now lease the entire 67,401 square-foot class A office building through January 2015.
Mitchell E. Hersh, president and chief executive officer of Mack-Cali, commented, "We're delighted that Thomson has chosen to expand its long-term presence at 2 Independence Way. This transaction demonstrates Mack-Cali's ability to maintain long-term tenant relationships and we look forward to continuing to serve Thomson's evolving office space requirements."
Sitar Company*ONCOR International represented the tenant in the transaction. Mack-Cali was represented in-house by Erin Moran, leasing associate.
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.