Mack-Cali Announces Third Quarter Leasing Activity at Westchester County Properties
11/16/2009 Category: Leasing and Development
Edison, New Jersey—November 16, 2009—Mack-Cali Realty Corporation (NYSE: CLI) today announced that it leased 256,029 square feet at its office and office/flex properties in Westchester County, New York during the third quarter. Company-wide, Mack-Cali leased 819,572 square feet of space during the quarter.
Highlights of third quarter transactions include:
- Emigrant Bank has signed a 15-year, 31,701-square-foot lease renewal and a 2,305-square-foot expansion at 7 Westchester Plaza in Elmsford. Located in Cross Westchester Executive Park, 7 Westchester Plaza is a 46,200-square-foot office/flex building that is 100 percent leased. Gere G. Ricker of MB Real Estate represented the tenant, and Mack-Cali was represented in-house by Carol McGuire, senior director of leasing.
- International Business Machines Corporation, a global information technology company, has signed a three-year, 43,905-square-foot lease renewal at 17 Skyline Drive in Hawthorne. Located in Mid-Westchester Executive Park, the 85,000-square-foot class A office property is 100 percent leased. Mack-Cali was represented in-house by Jeffrey Warner, vice president of leasing.
- Belmay, Inc., a global creator and manufacturer of fragrances, has signed a five-year lease renewal totaling 26,843 square feet at 200 Corporate Boulevard South in Yonkers. Located in South Westchester Executive Park, 200 Corporate Boulevard South is a 84,000-square-foot office/flex building that is 99.8 percent leased. Mack-Cali was represented in-house by Ivan Abry, senior director of leasing.
- The Southern Westchester Board of Cooperative Educational Services signed a pair of three-year lease renewals totaling 29,931 square feet at properties in Cross Westchester Executive Park. The transactions consisted of a 20,131-square-foot renewal at 2 Westchester Plaza, a 25,000-square-foot office/flex property that is 100 percent leased; and a 9,800-square-foot renewal at 50 Executive Boulevard, a 45,200-square-foot office/flex property that is 86.9 percent leased. Mack-Cali was represented in-house by Louis Amalfitano, director of leasing.
- Hospitals Insurance Company, Inc., an insurer serving the medical community, signed a 10-year, six-month lease renewal for 11,757 square feet and a 10-year and seven-month expansion of 2,925 square feet at 50 Main Street, Westchester Financial Center, in White Plains. Patricia A. Valenti of Newmark Knight Frank represented the tenant. Mack-Cali was represented in-house by Carol McGuire, senior director of leasing. 50 Main Street is an award-winning, 309,000-square-foot class A property that is 98.9 percent leased.
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.