Mack-Cali Announces Lease Renewal for Over 59,000 Square Feet with Par Pharmaceutical
03/01/2010 Category: Leasing and Development
Edison, New Jersey—March 1, 2010—Mack-Cali Realty Corporation (NYSE: CLI) today announced that Par Pharmaceutical, Inc. has signed a five-year lease renewal for 59,485 square feet at 300 Tice Boulevard in Woodcliff Lake, New Jersey.
Par Pharmaceutical, Inc. develops, manufactures, and markets generic drugs and innovative proprietary pharmaceuticals for specialty markets.
300 Tice Boulevard, a 230,000-square-foot class A building located in the heart of Bergen County, is 96 percent leased.
The tenant was represented by James J. Scancarella, Larry Leib, and Robert Rencarge of CresaPartners.
Mitchell E. Hersh, president and chief executive officer of Mack-Cali, commented, “Our ability to retain tenants like Par Pharmaceutical demonstrates our success in building long-term relationships with the nation’s most successful businesses.”
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.