Mack-Cali Announces New Lease for Entire Building in Westchester
04/23/2008 Category: Leasing and Development
Town Sports International Leases 81,700 Square-Foot Building
Edison, New Jersey—April 23, 2008—Mack-Cali Realty Corporation (NYSE: CLI) today announced that Town Sports International, LLC has signed a new 81,686 square-foot lease for an entire office/flex building in Elmsford, New York. The lease, for 399 Executive Boulevard at Cross Westchester Executive Park, carries a term of 10 years.
Town Sports International, an owner and operator of health clubs in the Northeast and Mid-Atlantic regions, will use the space for support services for its health clubs.
Mitchell E. Hersh, Mack-Cali president and chief executive officer, commented, "Town Sports is a leader within its industry, and fits well into our tenant roster of high-quality businesses. We look forward to serving the company's space needs at this Elmsford site for many years to come."
Ed Gray of Ed Gray USA Inc. represented the tenant. Mack-Cali was represented in-house by Ivan Abry, 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.