Mack-Cali Announces Lease Activity at Paramus Building
03/30/2009 Category: Leasing and Development
Edison, New Jersey—March 30, 2009—Mack-Cali Realty Corporation (NYSE: CLI) today announced that in the first quarter of 2009 it has leased over 45,000 square feet at Mack-Cali Centre II, located at 650 From Road in Paramus, New Jersey.
B/E Aerospace, Inc. has signed a 15,500-square-foot lease for seven years and two months at the property, while RBC Capital Markets Corporation has taken 7,878 square feet for five years and seven months. These lease transactions closely followed a previously announced 22,000-square-foot renewal with Harsco Corporation, a worldwide industrial services company. The 348,510-square-foot class A office building is now 91.1 percent leased.
Amy Bonistalli of Prominent Properties Sotheby's International Realty represented the tenant, B/E Aerospace, Inc., a manufacturer of aircraft cabin interior products and a distributor of aerospace fasteners and consumables. Mack-Cali was represented in-house by Peter Bronsnick, leasing associate.
Brian Godau and Richard Danesi of CB Richard Ellis represented RBC Capital Markets Corporation, a global provider of personal and commercial banking, wealth management, insurance, corporate, investment banking and transaction processing services. Mack-Cali was represented in-house by Richard Eyre, leasing associate.
Mitchell E. Hersh, Mack-Cali president and chief executive officer, commented, "We're delighted that this pre-eminent property attracts and retains high-quality tenants. The building offers businesses a premier address at a competitive rate."
Mack-Cali Centre II stands prominently within the Bergen County corporate corridor at Exit 165 of the Garden State Parkway. The building features a full-height, sky-lit atrium overlooking a courtyard with a pond, an on-site cafe, beautiful landscaping, outdoor seating, and public transportation to Manhattan and throughout Bergen County.
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 33.8 million square feet. The properties enable the Company to provide a full complement of real estate opportunities to its diverse base of approximately 2,100 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.