Mack-Cali Announces Second Quarter Leasing Activity at D.C. and Maryland Properties
08/01/2012 Category: Leasing and Development
Edison, New Jersey—August 1, 2012—Mack-Cali Realty Corporation (NYSE: CLI) today announced that it leased 54,762 square feet at its office and office/flex properties in the Washington, D.C. and Maryland markets during the second quarter. Portfolio-wide, Mack-Cali leased 938,873 square feet of space during the quarter.
Highlights of the second quarter transactions include:
- The University of Maryland signed an 8,030-square-foot lease renewal at 6305 Ivy Lane in Greenbelt, Md. The 112,022-square-foot office building, located in Capital Office Park, is 94.3 percent leased.
- Blue Water Media, a provider of web design, custom web development and on-line marketing solutions, signed transactions totaling 10,051 square feet at 6404 Ivy Lane in Greenbelt, Md. The transactions consisted of a 6,501-square-foot renewal and a 3,550-square-foot expansion. The 165,234-square-foot office building is located in Capital Office Park. The tenant was represented in the transaction by Dennis Murphy and John Rosso, both of Murphy Commercial Real Estate.
- MHI Hotels Inc., trading as Chesapeake Hospitality, signed transactions totaling 6,833 square feet at 6411 Ivy Lane in Greenbelt, Md. The transactions consisted of a 5,917-square-foot renewal and a 916‑square-foot expansion. The 138,405-square-foot office building is located in Capital Office Park. The tenant was represented in the transaction by Andrew J. Smith of Cassidy Turley.
- The District of Columbia College Access Program, a non-profit organization, signed a new 5,778-square-foot lease at 1400 L Street, NW in Washington, D.C. The 159,000-square-foot office building is 100 percent leased. The tenant was represented in the transaction by Sammy Buckner and Jon Glass, both of Cresa Washington DC.
In all of these transactions Mack-Cali was represented in-house by Kenneth Smondrowski, director of leasing.
Mitchell E. Hersh, president and chief executive officer of Mack-Cali, commented, “We continue to focus on attracting and retaining high credit quality tenants while striving to provide superior work environments and service. This enables us to continue to outperform in our key markets.”
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 276 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,” “potential,” “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.