Mack-Cali Announces New Lease with PBA of the City of New York
12/01/2009 Category: Leasing and Development
Edison, New Jersey—December 1, 2009—Mack-Cali Realty Corporation (NYSE: CLI) today announced that the Patrolmen’s Benevolent Association (PBA) of the City of New York has signed a new 15-year lease for 39,069 square feet at 125 Broad Street in Downtown Manhattan.
The largest union representing uniformed members of the NYPD will house its executive offices at this class A office building. The PBA was represented by Mark Friedman and Annie Yao of FirstService Williams, with legal representation provided by Christine McGuiness of Schiff Hardin LLP. Mack-Cali was represented by Mark Ravesloot, Scott Sloves, and Lisa Cear of CB Richard Ellis.
Mack-Cali’s ownership interests of 524,476 square feet in the building are 100 percent leased.
Mitchell E. Hersh, Mack-Cali president and chief executive officer, commented, “We are proud to welcome the PBA to our portfolio of premier properties. The location and amenities offered by 125 Broad Street make it one of Downtown Manhattan’s most prestigious business addresses.”
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 289 properties, primarily office and office/flex buildings located in the Northeast, totaling approximately 33.2 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.