Mack-Cali Announces Third Quarter Leasing Activity at Suburban Philadelphia, Southern NJ, D.C., and Maryland Properties
11/02/2011 Category: Leasing and Development
Edison, New Jersey—November 2, 2011—Mack-Cali Realty Corporation (NYSE: CLI) today announced that it leased 162,667 square feet at its office properties in the Suburban Philadelphia, Southern New Jersey, Washington, D.C., and Maryland markets during the third quarter. Portfolio-wide, Mack-Cali leased 1,245,345 square feet of space during the quarter.
Highlights of the third quarter transactions include:
- Prism Color Corporation, a provider of prepress and printing services, signed a 37,320-square-foot lease renewal at 31 Twosome Drive in Moorestown, NJ. The 84,200-square-foot office/flex property, located in Moorestown West Corporate Center, is 100 percent leased. The tenant was represented in the transaction by Jon C. Sarkisian and Brian C. Saggiomo, both of CB Richard Ellis. Mack-Cali was represented in-house by Tim O’Brien, director of leasing.
- GGB, LLC, a manufacturer of bearings, signed a renewal for the entire 21,600-square-foot 1451 Metropolitan Drive in West Deptford, NJ. The tenant was represented in the transaction by Harry Thomes and Brian Knowles, both of Jones Lang LaSalle. Mack-Cali was represented in-house by Tim O’Brien.
- Law firm Joseph, Greenwald & Laake, P.A. signed a 19,852-square-foot renewal at 6404 Ivy Lane, Capital Office Park in Greenbelt, MD. The tenant was represented in the transaction by Lance A. Schwarz and David H. Michael, both of NAI Michael. Mack Cali was represented in-house by Kenneth Smondrowski, director of leasing.
Mitchell E. Hersh, Mack-Cali president and chief executive officer, commented, “Mack-Cali’s ongoing commitment to offering a superior product, strong sponsorship, and an unmatched ‘Tenants First’ philosophy continues to allow us to attract and retain tenants like these.”
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 278 properties, primarily office and office/flex buildings located in the Northeast, totaling approximately 32.4 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.