Mack-Cali Announces NYC Headquarters Lease with International AIDS Vaccine Organization
09/30/2010 Category: Leasing and Development
Edison, New Jersey—September 30, 2010—Mack-Cali Realty Corporation (NYSE: CLI) today announced that the International AIDS Vaccine Initiative (IAVI) has signed a new 15-year, 37,404-square-foot lease at 125 Broad Street in Downtown Manhattan. The full-floor space will serve as the organization’s New York City headquarters.
IAVI is a global not-for-profit agency whose mission is to ensure the development of safe, effective, accessible, preventive HIV vaccines for use throughout the world. The organization’s scientific team works with academic, commercial, and government institutions around the world to develop and assess candidate vaccines. Among other activities, IAVI advocates for policies that will ensure that once an AIDS vaccine is developed, it will be swiftly produced, distributed, and made affordable worldwide.
IAVI was represented in the lease transaction by Marc R. Shapses, Jason Schwartzenberg, and Joseph Messina, all of Studley. Mack-Cali was represented by CB Richard Ellis.
Mitchell E. Hersh, president and chief executive officer of Mack-Cali, commented, “We are proud to welcome IAVI to our property. The building’s premier location and quality are consistent with the noble efforts of this preeminent organization.”
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 287 properties, primarily office and office/flex buildings located in the Northeast, totaling approximately 32.9 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.
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