Mack-Cali Announces Leasing Activity at New Jersey Properties
04/20/2009 Category: Leasing and Development
Edison, New Jersey—April 20, 2009—Mack-Cali Realty Corporation (NYSE: CLI) today announced the following lease transactions totaling 91,195 square feet at its office properties in New Jersey:
- Eisai Corporation of North America, a research-based human health care company, has signed a new long-term lease for 41,529 square feet at 300 Tice Boulevard in Woodcliff Lake. 300 Tice Boulevard is a 230,000-square-foot class A office building that is 100 percent leased. Daniel M. Foley, Graham "Chip" Conklin, and Gregg K. Najarian of Studley, Inc. represented the tenant, and Mack-Cali was represented in-house by Christopher DeLorenzo, vice president of leasing.
- NetJets, Inc., specializing in fractional jet ownership, has signed a 19,215-square-foot renewal lease at 581 Main Street in Woodbridge for six years and eight months. The 200,000-square-foot class A office property is 100 percent leased. David Simson of Newmark Knight Frank represented the tenant, and Mack-Cali was represented in-house by Toni Casiano, senior director of leasing.
- Law Offices of Stephen E. Gertler, signed a six-year, 13,486-square-foot renewal lease at 1350 Campus Parkway, in Monmouth Shores Corporate Park. The 79,747-square-foot class A office building is 91.9 percent leased. Mary Beth Priestley of Bollerman Real Estate Services represented the tenant, and Mack-Cali was represented in-house by Erin Moran, director of leasing.
- Palisade Capital Management, LLC, a registered investment advisor, signed a five-year lease renewal and expansion totaling 16,965 square feet at One Bridge Plaza in Fort Lee. The transaction consisted of a 11,697-square-foot renewal, and a 5,268-square-foot expansion. One Bridge Plaza is a 200,000-square-foot class A office property located at the foot of the George Washington Bridge.
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.