Mack-Cali Announces First Quarter Leasing Activity at Westchester and Fairfield County Properties
04/30/2010 Category: Leasing and Development
Edison, New Jersey—April 30, 2010—Mack-Cali Realty Corporation (NYSE: CLI) today announced that it leased 277,686 square feet during the first quarter at its office and office/flex properties in Westchester, NY, and Fairfield, CT, counties. Company-wide, Mack-Cali leased 802,621 square feet of space during the quarter.
Highlights of the first quarter transactions include:
- FedEx Ground Package System, Inc. signed a new three-year, 66,000-square-foot lease for the entire building at 600 West Avenue in Stamford, Connecticut. 600 West Avenue is an office/flex property located in Stamford Executive Park. Mack-Cali was represented in-house by Ivan Abry, senior director of leasing.
- Law firm McCarthy Fingar LLP signed a 10-year, 20,000-square-foot lease renewal at 11 Martine Avenue in White Plains. Located in Westchester Financial Center, 11 Martine Avenue is a 180,000-square-foot, class A office property. Craig Ruoff of Rakow Commercial Realty Group represented the tenant, and Mack-Cali was represented in-house by Louis Amalfitano, senior director of leasing.
- American Diagnostica, Inc., a developer, manufacturer, and distributor of clinical diagnostic and research products, signed two leases totaling 17,800 square feet at 500 West Avenue in Stamford, Connecticut. The lease transactions consisted of a three-year, 10,750-square-foot renewal, and a 7,050-square-foot three-year and six-month expansion. 500 West Avenue, a 25,000-square-foot office/flex building located in Stamford Executive Park, is 100 percent leased. Mack-Cali was represented in-house by Carol McGuire, senior director of leasing.
- Nationwide Mutual Insurance Company, a provider of insurance and financial services, signed a three-year, 13,448-square-foot lease renewal at 565 Taxter Road in Elmsford, New York. 565 Taxter Road, a 170,554-square-foot, class A office building located in Taxter Corporate Park, is 93.6 percent leased. Budd Wiesenberg of CB Richard Ellis represented the tenant, and Mack-Cali was represented in-house by Ivan Abry.
- AVR Realty Company, an owner and developer of commercial and residential real estate, signed a five-year, 12,541-square-foot lease renewal at One Executive Boulevard in Yonkers, New York. One Executive Boulevard, a 112,000-square-foot, class A office property located in South Westchester Executive Park, is 100 percent leased. Mack-Cali was represented in house by Jeffrey Warner, vice president of leasing, and Danielle Rollins, leasing associate.
- Chiara LLC, owners of fitness and exercise centers, signed a new 12-year, five-month, 20,516-square-foot lease at One Odell Plaza in Yonkers, New York. One Odell Plaza, a 106,000-square-foot office/flex property located in South Westchester Executive Park, is 99.9 percent leased. Mack-Cali was represented in-house by Jeffrey Warner and Danielle Rollins.
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 288 properties, primarily office and office/flex buildings located in the Northeast, totaling approximately 33.1 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.