Mack-Cali Leases Over 88,000 Square Feet at Burlington County Properties in Fourth Quarter
02/14/2011 Category: Leasing and Development
Edison, New Jersey—February 14, 2011—Mack-Cali Realty Corporation (NYSE: CLI) today announced that it leased 88,005 square feet at its office/flex properties in Burlington County, New Jersey during the fourth quarter. These transactions were all for space at Moorestown West Corporate Center. Portfolio‑wide, Mack-Cali leased 1,217,717 square feet of space during the quarter.
These transactions include:
- Weiler Labeling Systems LLC, a provider of technologically advanced labeling and outserting solutions, signed a six-year, two-month, 31,825-square-foot lease renewal at 1256 N. Church Street. Kirk Miller and John Gartland of Cushman & Wakefield represented the tenant. The 63,495-square-foot office/flex property is 100 percent leased.
- C&L Properties, LLC and its affiliate, C&L Packaging, LLC, renewed leases totaling 32,810 square feet at 1245 N. Church Street. C&L provides contract packaging of promotional items for the pharmaceutical industry. Jon Sarkisian and Brian Saggiomo of CB Richard Ellis represented the tenant. The 52,810-square-foot office/flex property is 100 percent leased.
- Vision Realty LLC signed a 14,570-square-foot lease renewal at 915 N. Lenola Road. The 52,488-square‑foot office/flex building is 100 percent leased.
- Paramount Hardware Company LLC, a supplier of commercial hardware, signed a 4,800-square-foot renewal at 30 Twosome Drive. The tenant was represented by Scott Mertz of NAI Mertz.
- Red Market Promotions Inc., a provider of promotional materials for the casino industry, signed a new 4,000-square-foot lease also at 30 Twosome Drive. The 39,675-square-foot office/flex property is 100 percent leased.
Mack-Cali was represented in-house by Tim O’Brien, director of leasing, in all of these transactions.
Mitchell E. Hersh, president and chief executive officer of Mack-Cali, commented, “Despite only a modest economic recovery to date, Mack-Cali continues to outperform and be the landlord of choice in our core markets. These transactions illustrate that fact.”
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.