Mack-Cali Announces Third Quarter Leasing Activity at Westchester and Fairfield County Properties
11/01/2011 Category: Leasing and Development
Edison, New Jersey—November 1, 2011—Mack-Cali Realty Corporation (NYSE: CLI) today announced that it leased 299,814 square feet during the third quarter at its office and office/flex properties in Westchester and Rockland counties in New York and Fairfield County, Connecticut. Company-wide, Mack-Cali leased 1,245,345 square feet of space during the quarter.
Highlights of the third quarter transactions include:
- Xand Corporation, a provider of data center infrastructure and business continuity solutions, signed lease renewals totaling 89,710 square feet at Mid-Westchester Executive Park in Hawthorne, NY. The transactions included renewals of 46,078 square feet at 11 Skyline Drive and 43,632 square feet at 17 Skyline Drive. Xand leases the entire 11 Skyline Drive office/flex building. 17 Skyline, an 85,000-square-foot office building, is 100 percent leased. Mack-Cali was represented in-house by Carol McGuire, senior director of leasing.
- Nextel of New York, Inc., a provider of wireless and wireline communications services, signed two lease transactions totaling 30,407 square feet. The transactions consisted of a 30,292-square-foot renewal and a 115-square-foot expansion at 565 Taxter Road, Taxter Corporate Park, in Elmsford, NY. The 170,554-square-foot office building is 82.7 percent leased. The tenant was represented in the transaction by Bradford C. Fenlon of CB Richard Ellis. Mack-Cali was represented in-house by Ivan Abry, senior director of leasing.
- Montefiore Medical Center signed transactions totaling 28,375 square feet at South Westchester Executive Park in Yonkers, NY. The transactions consisted of new leases for 8,500 square feet at 3 Executive Boulevard, 7,710 square feet at 200 Corporate Boulevard South, and 2,555 square feet at 6 Executive Plaza, as well as a 9,610-square-foot renewal at 100 Corporate Boulevard. 3 Executive Boulevard, a 58,000-square-foot office building, is 100 percent leased. 6 Executive Plaza, an 80,000-square-foot office/flex building, is 100 percent leased. 200 Corporate Boulevard South, an 84,000-square-foot office/flex building, is 100 percent leased, and 100 Corporate Boulevard, a 78,000-square-foot office/flex building, is 98.3 percent leased. Mack-Cali was represented in-house by Carol McGuire.
- Media organization World Wrestling Entertainment, Inc. (WWE) signed a new 20,700-square-foot lease at Soundview Plaza, 1266 East Main Street in Stamford, Conn. The 179,260-square-foot office building is 87.7 percent leased. The tenant was represented in the transaction by John Cunningham and Tim Rorick of Colliers International. Mack-Cali was represented in-house by Louis Amalfitano, senior director of leasing.
- Schott Corporation, a group of glass manufacturers and developers, signed a 16,915-square-foot renewal at 555 Taxter Road in Elmsford. The 170,554-square-foot office building, located in Taxter Corporate Park, is 80.3 percent leased. The tenant was represented by Maureen O’Boyle and Gerard E. Lees of Cushman & Wakefield of Connecticut. Mack-Cali was represented in-house by Louis Amalfitano.
- MMO Music Group, Inc., a provider of accompaniment CDs and sheet music, signed lease transactions totaling 16,588 square feet at 50 Executive Boulevard in Elmsford. They include two renewals totaling 15,611 square feet and a 977-square-foot expansion. The 45,200-square-foot office/flex building is located in Cross Westchester Executive Park. Mack-Cali was represented in-house by Carol McGuire.
- Honeywell International Inc., a diversified technology and manufacturing leader, signed a 15,000-square-foot renewal transaction at 125 Clearbrook Road, also in Cross Westchester Executive Park in Elmsford. The 33,000-square-foot office/flex property is 100 percent leased. The tenant was represented in the transaction by Neil Schorr of Realty Insight Group, Inc. Mack-Cali was represented in‑house by Ivan Abry.
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.