Mack-Cali Announces Leases at Westchester Properties
02/02/2009 Category: Leasing and Development
Edison, New Jersey—February 2, 2009—Mack-Cali Realty Corporation (NYSE: CLI) today announced four lease transactions totaling 52,332 square feet at its Westchester County, NY properties:
- SmartPros Ltd., a provider of professional education products, renewed its 17,850-square-foot lease for nine years at 12 Skyline Drive in Hawthorne. A 46,850-square-foot office/flex building located in Mid-Westchester Executive Park, 12 Skyline Drive is 100 percent leased. Mack-Cali was represented in-house by Ivan Abry, senior director of leasing.
- Proftech Corp., a nationwide office products supplier, signed a six-year renewal agreement for its 12,000-square-foot space at 200 Clearbrook Road in Elmsford. Located in Cross Westchester Executive Park, 200 Clearbrook Road is a 94,000-square-foot office/flex property that is 98.8 percent leased. Rick Rakow of Rakow Commercial Realty Group, Inc., represented the tenant, and Ivan Abry represented Mack-Cali.
- Hawthorne Foundation, Inc., a not-for-profit organization providing educational services to children challenged by serious disabilities, signed a new 11,622-square-foot lease for 10 years at 525 Executive Boulevard in Cross Westchester Executive Park, Elmsford. The 61,700-square-foot office/flex building is 100 percent leased. Mack-Cali was represented in-house by Carol McGuire, senior director of leasing.
- Hudson Valley Automotive Parts, Inc., an automotive parts distributor, renewed its lease for 10,860 square feet for four years at 200 Saw Mill River Road in Hawthorne. The 51,100-square-foot office/flex building is 92 percent leased. Mack-Cali was represented by Ivan Abry in the transaction.
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 293 properties, primarily office and office/flex buildings located in the Northeast, totaling approximately 33.5 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.