Mack-Cali Announces Lease Renewals in Moorestown
01/30/2008 Category: Leasing and Development
Edison, New Jersey—January 30, 2008—Mack-Cali Realty Corporation (NYSE: CLI) today announced two lease renewals totaling 73,460 square feet at Moorestown West Corporate Center in Moorestown, New Jersey:
- Cort Business Services Corp., a Berkshire Hathaway Inc. company and a provider of rental furniture and services, renewed its lease of 46,880 square feet for five years at 31 Twosome Drive. The 84,200 square-foot office/flex building is 100% leased.
- Tropicana Products Inc., a global citrus juice company and a unit of Pepsico, leased 26,580 square feet for seven years at 915 North Lenola Road. The transaction included a renewal of 19,525 square feet and an expansion of 7,055 square feet. The 52,488 square-foot office/flex building is 100% leased. Harry Thomes and Dan McGillicuddy of The Staubach Company represented the tenant.
In both transactions, Mack-Cali was represented in-house by Tim O'Brien, leasing director.
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.