Mack-Cali Announces Third Quarter Leasing Activity at Westchester and Fairfield County Properties
11/01/2010 Category: Leasing and Development
Edison, New Jersey—November 1, 2010—Mack-Cali Realty Corporation (NYSE: CLI) announced today that it leased 244,694 square feet during the third quarter at its office and office/flex properties in Westchester County, New York, and Fairfield County, Connecticut. Portfolio-wide, Mack-Cali leased 1,107,567 square feet of space during the quarter.
Highlights of the third quarter transactions include:
- Optical Distributor Group (ODG), a distributor of soft contact lenses, signed a 40,615-square-foot lease renewal and a 22,402-square-foot lease expansion at 4 Skyline Drive at Mid-Westchester Executive Park in Hawthorne, New York. Both the renewal and expansion leases expire in 2023. Mack-Cali was represented in-house by Ivan Abry, senior director of leasing. The 80,600-square-foot office/flex building is 100 percent leased.
- Nextel of New York, a provider of wireless and wireline communications services, signed a 30,292-square-foot lease renewal at 565 Taxter Road at Taxter Corporate Park in Elmsford, New York. Nicolette Zimmermann and Brad Fenlon of CB Richard Ellis represented the tenant, and Mack-Cali was represented in-house by Ivan Abry. The 170,554-square-foot office building is 92.9 percent leased.
- Flag Capital Management, a fund-of-funds in venture capital, private equity, and real estate assets, signed a five-year, five-month lease renewal for 18,485 square feet at Soundview Plaza, 1266 E. Main Street, in Stamford, Connecticut. Patrick Robinson of Robinson Advisors, LLC represented the tenant, and Mack-Cali was represented in-house by Carol McGuire, senior director of leasing. The 179,260-square-foot office building is 88.8 percent leased.
Mitchell E. Hersh, Mack-Cali president and chief executive officer, commented, “As evidenced by our consistent outperformance in our markets, Mack-Cali stands out as the landlord of choice. Our diverse portfolio of top-tier properties and our consistent level of superior service to both large and small tenants alike, gives us a strong advantage over the competition. This past quarter’s leasing results, in the face of a difficult economic environment, demonstrate that.”
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.
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.