Mack-Cali Announces Leasing Activity at New Jersey Properties
02/02/2009 Category: Leasing and Development
Edison, New Jersey—February 2, 2009—Mack-Cali Realty Corporation (NYSE: CLI) today announced the following lease transactions totaling 109,873 square feet at its office properties in New Jersey:
- The Daily Record, a daily newspaper serving Morris County, has signed a new 17,374-square-foot lease at 6 Century Drive in Parsippany with a five-year, two-month term. Meredith LaPier, Suzanne Macnow, and Thomas Mallaney of CB Richard Ellis represented the tenant, and Mack-Cali was represented in-house by Diane Chayes, vice president of leasing. The 100,036-square-foot class A office property located at Mack Cali Business Campus is 94.7 percent leased.
- Rockwood Specialties Inc., a specialty chemicals and advanced performance materials company, signed a 19,753-square-foot lease at Princeton Overlook, 100 Overlook Center, in Princeton. The transaction consisted of a 16,917-square-foot renewal, and a 2,836-square-foot expansion, co-terminating in February 2013. The 149,600-square-foot class A office building is 100 percent leased. Peter Hamburger and Harlan Hollander of Cushman & Wakefield represented the tenant. Mack-Cali was represented in-house by Toni Casiano, senior director of leasing, and Erin Moran, director of leasing.
- Miami International Holdings, Inc., an investment services firm, signed a new seven-year lease for 13,803 square feet at One Bridge Plaza in Fort Lee. The 200,000-square-foot class A office property is 82.3 percent leased. Roger Steinhardt of King Realty Group, LLC, represented the tenant, and Mack-Cali was represented in-house by Richard Eyre, leasing associate.
- Beard Miller Company LLP, an accounting, tax, and business consulting firm, signed a new 10,880-square-foot lease for five years and seven months at 100 Walnut Avenue in Clark. The 182,555-square-foot class A office property is 97.3 percent leased. Gary J. Lowe of Bollerman Real Estate Services represented the tenant, and Mack-Cali was represented by Toni Casiano.
- Paragon Computer Professionals, a provider of management consulting and information technology solutions, signed three renewal leases at 25 Commerce Drive at Cranford Business Park in Cranford. The leases, totaling 22,415 square feet, expire May 2012. 25 Commerce Drive is a 67,749-square-foot office building that is 88.7 percent leased. Larry Martin of Grubb & Ellis represented the tenant; Mack-Cali was represented by Toni Casiano.
- Blackhawk Management Corporation, an engineering, information technology, and logistics service provider, has renewed its 11,229-square-foot space at 1324 Wyckoff Road in Wall Township for three years and four months. The 21,168-square-foot office/flex property is 100 percent leased. Hugh Magee of Magee Realty Consultants Company represented the tenant. Mack-Cali was represented by Erin Moran.
- Yorkville Advisors LLC, a private investment management firm, signed a five-year renewal of its 14,419-square-foot space at 101 Hudson Street in Jersey City. The 42 story, 1.25 million square-foot class A office tower is 100 percent leased. 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 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.