Mack-Cali Announces First Quarter Leasing Activity at Westchester and Fairfield County Properties
05/03/2011 Category: Leasing and Development
Edison, New Jersey—May 3, 2011—Mack-Cali Realty Corporation (NYSE: CLI) today announced that it leased 165,125 square feet during the first quarter at its office and office/flex properties in Westchester County, New York and Fairfield County, Connecticut. Company-wide, Mack-Cali leased 1,128,595 square feet of space during the quarter.
Highlights of the first quarter transactions include:
- Quintiles, Inc., a bio and pharmaceutical services provider, renewed its 18,620-square-foot lease at 8 Skyline Drive in Hawthorne. The 50,000-square-foot office/flex building, located in Mid-Westchester Executive Park, is 98.7 percent leased. The tenant was represented by Lawrence Ruggieri of Cushman & Wakefield in this transaction, and Mack-Cali was represented in-house by Danielle Rollins, leasing associate.
- Conri Services, Inc., a warehousing and fulfillment services provider, signed a 13,252-square-foot expansion lease at 5 Skyline Drive, also in Hawthorne. Located in Mid-Westchester Executive Park, the 124,022-square-foot office/flex building is 99.6 percent leased. Mack-Cali was represented in-house by Louis Amalfitano, senior director of leasing.
- Basso Capital Management LP, an employee-owned hedge fund sponsor, signed a 12,192-square-foot lease renewal at Soundview Plaza, 1266 E. Main Street. The 179,260-square-foot office building is located in Stamford. Jay Hruska of Cushman & Wakefield represented the tenant in this transaction, and Mack-Cali was represented in-house by Louis Amalfitano.
- Crestwood Technology Group, a distributor of military, defense, and aerospace parts, has renewed its lease and expanded their premises by relocating to 1 Odell Plaza in Yonkers, where they will now occupy a total of 11,770 square feet. Located in South Westchester Executive Park, the 106,000-square‑foot office/flex building is 99.9 percent leased. The tenant previously leased space at 200 Corporate Boulevard at South Westchester Executive Park, also in Yonkers. Mack-Cali was represented in-house by Ivan Abry, senior director of leasing.
- Publisher Hearst Communications Inc. signed a 10,267-square-foot lease renewal at 15 Skyline Drive in Hawthorne. The 55,000-square-foot office/flex building, located in Mid-Westchester Executive Park, is 100 percent leased. The tenant was represented by Stephen Baker of Cushman & Wakefield in this transaction, and Mack-Cali was represented in-house by Ivan Abry.
Mitchell E. Hersh, president and chief executive officer of Mack-Cali, commented, “Despite challenging economic times, we continue to see solid leasing activity and to outperform in our key markets. These transactions are prime examples of Mack-Cali’s ability to attract and retain high credit quality tenants.”
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 277 properties, primarily office and office/flex buildings located in the Northeast, totaling approximately 32.2 million square feet. The properties enable the Company to provide a full complement of real estate opportunities to its diverse base of over 2,000 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.