Mack-Cali Announces Second Quarter Leasing Activity at Westchester and Fairfield County Properties
08/18/2009 Category: Leasing and Development
Edison, New Jersey—August 18, 2009—Mack-Cali Realty Corporation (NYSE: CLI) today announced the following lease transactions totaling over 227,000 square feet at its office properties in Westchester and Fairfield counties during the second quarter. Company-wide, Mack-Cali leased over 825,600 square feet of space during the quarter.
Highlights of second quarter transactions include:
- Visiting Nurse & Hospice Care of Southwestern CT, Inc., a provider of home health and hospice services, has signed a new 12,898-square-foot lease at Soundview Plaza in Stamford, Connecticut, for 11 years. Jeffrey P. Williams and Steve S. Lash of Choyce Peterson, Inc., represented the tenant. Mack-Cali was represented by Stephen Baker and Brian Scruton of Cushman & Wakefield, Inc., and Louis Amalfitano, in-house director of leasing. Located at 1266 East Main Street, the 179,260-square-foot class A office property is 82.8 percent leased.
- Bright Horizons Children’s Center, LLC, a provider of employer-sponsored child care, has signed three, five-year lease renewals totaling 20,950 square feet. The transactions consisted of a 7,200-square-foot renewal at 77 Executive Boulevard, and a 6,750-square-foot renewal at 11 Clearbrook Road, both located in Cross Westchester Executive Park in Elmsford; as well as a 7,000-square-foot renewal at 7 Odell Plaza, in South Westchester Executive Park in Yonkers. Mack-Cali was represented in-house by Louis Amalfitano.
- Progressive Casualty Insurance Company, an auto insurance provider, signed two renewal leases totaling 17,900 square feet at 1 Executive Boulevard, in Yonkers, New York, for three years and seven months. Located in South Westchester Executive Park, the 112,000-square-foot office property is 100 percent leased. The tenant was represented by Glenn Walsh of Cushman & Wakefield, Inc., and Todd M. Heyman of Allegro Realty Advisors. Mack-Cali was represented in-house by Ivan Abry.
Other deals signed last quarter include a new 11,800-square-foot lease with Prospero’s Equipment Corporation at 5 Warehouse Lane at Elmsford Distribution Center in Elmsford, New York, and an 18,620-square-foot renewal with Quintiles, Inc., at 8 Skyline Drive in Mid-Westchester Executive Park in Hawthorne, New York.
In addition to these leases, Mack-Cali previously announced renewal and expansion leases for Fabrication Enterprises, Inc., totaling 57,517 square feet at two properties in Cross Westchester Executive Park, Elmsford, New York.
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 295 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.