Mack-Cali Announces Lease Renewal/Expansion at Jersey City Building
07/02/2008 Category: Leasing and Development
Tullett Prebon Leases Over 100,000 Square Feet at 101 Hudson Street
Edison, New Jersey—July 2, 2008—Mack-Cali Realty Corporation (NYSE: CLI) today announced that Tullett Prebon Holdings Corp. has leased 100,759 square feet at 101 Hudson Street in Jersey City, New Jersey. The lease, for the company's North American headquarters, consists of a 63,372 square-foot extension for 12 years and seven months and a 37,387 square-foot expansion for 15 years.
Tullett Prebon Holdings Corp. is a division of Tullett Prebon plc, a global inter-dealer broker headquartered in London. 101 Hudson Street, a 1.25 million square-foot class A waterfront office tower, is 100% leased.
Mitchell E. Hersh, president and chief executive officer of Mack-Cali, commented, "We're delighted that Tullett Prebon has expanded its long-term presence at 101 Hudson Street. This transaction demonstrates Mack-Cali's ability to build long-term tenant relationships, as well as the Jersey City waterfront's strong appeal to global companies."
John Cefaly, Robert Lowe and Ed Duenas of Cushman & Wakefield represented the tenant in the transaction. Mack-Cali was represented in-house by Thomas Savoca, senior director of leasing.
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.