Mack-Cali Announces Lease Extension with Leading Global Bank at Harborside Financial Center
01/26/2011 Category: Leasing and Development
Edison, New Jersey—January 26, 2011—Mack-Cali Realty Corporation (NYSE: CLI) today announced that The Bank of Tokyo-Mitsubishi UFJ, Ltd. (BTMU), a subsidiary of Mitsubishi UFJ Financial Group, has signed a 10-year, 137,076-square-foot lease extension at Harborside Financial Center in Jersey City.
The lease, which would have expired in 2019, now carries a 2029 expiration, and is for space at Harborside Plaza 3, a 725,600-square-foot class A office building. Harborside Financial Center is a mixed-use, waterfront complex consisting of 3.1 million square feet of class A office space, hotel, and retail, and land to develop an additional 3.6 million square feet of office space. The complex is currently 97.7 percent leased. The tenant was represented in the transaction by Fred Smith and Curtis Foster of Cushman & Wakefield.
Mitchell E. Hersh, president and chief executive officer of Mack-Cali, commented, “We’re delighted that BTMU has decided to extend their lease at Harborside Financial Center. We believe that our long-standing relationship, along with the fact that Harborside is the premier office complex on the Jersey City waterfront, facilitated the decision to make a significant space commitment well in advance of the bank’s lease expiration.”
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.