Mack-Cali Leases Over 350,000 Square Feet at Northern and Central New Jersey Properties in Fourth Quarter
02/13/2012 Category: Leasing and Development
Edison, New Jersey—February 13, 2012—Mack-Cali Realty Corporation (NYSE: CLI) today announced that it leased 357,055 square feet at its office and office/flex properties in northern and central New Jersey during the fourth quarter. Portfolio-wide, Mack-Cali leased 773,707 square feet of space during the quarter.
Highlights of the fourth quarter transactions include:
- One Call Medical, Inc., a provider of specialty services to insurance payers, signed a 57,243-square-foot lease renewal at 20 Waterview Boulevard in Parsippany. The 225,550-square-foot office building, located in Waterview Corporate Center, is 99.1 percent leased. The tenant was represented in the transaction by Linda Dow, Craig Eisenhardt, and Rob Martin, all of Jones Lang LaSalle. Mack-Cali was represented in-house by Diane Chayes, first vice president of leasing.
- Tercica, Inc., a specialty pharmaceutical company and an affiliate of the Ipsen Group, signed a new 32,552-square-foot lease at Liberty Corner Corporate Center at 106 Allen Road in Bernards Township. The 132,010-square-foot office building is 93.5 percent leased. The tenant was represented in the transaction by Charles Parmelli of Cassidy Turley. Mack-Cali was represented in-house by Richard Travaglini and Jim Nugent, both senior directors of leasing.
- MFXchange US, Inc., a subsidiary of Fairfax Financial Holdings Ltd., signed a 20,217-square-foot lease renewal at 412 Mt. Kemble Avenue in Morris Township. The tenant was represented in the transaction by Rémy deVarenne of CB Richard Ellis. Mack-Cali was represented in-house by Brian Decillis, senior director of leasing.
- QualCare Alliance Networks, Inc., a full-service managed care organization, signed a 19,238-square-foot lease expansion at 30 Knightsbridge Road in Piscataway. The four-building office complex, totaling 680,350 square feet, is 88.7 percent leased. The tenant was represented in the transaction by Brad Fenlon of CB Richard Ellis. Mack-Cali was represented in-house by Toni Casiano, senior director of leasing.
- Thales USA, Inc., a global technology leader in the defense and security markets as well as the aerospace and transport markets, signed an 18,726-square-foot lease renewal at 40 Commerce Way in Totowa. The 50,576-square foot office/flex building, located in Mack-Cali Commercenter, is 86.3 percent leased. The tenant was represented in the transaction by Jodie Matthews, David Knee, and Chris Hile, all of Jones Lang LaSalle. Mack-Cali was represented in-house by Gregg Baillie, director of leasing.
- Law firm McManimon & Scotland, L.L.C. signed a new 17,931-square-foot lease at 75 Livingston Avenue at 280 Corporate Center, in Roseland. The tenant was represented by Christopher Marx, Chris Koeck, and Joe Messina, all of Studley. Mack-Cali was represented in-house by Richard Travaglini.
- JPMorgan Chase Bank N.A., a global financial services firm, signed a 17,814-square-foot lease renewal at 300 Tice Boulevard in Woodcliff Lake. The 230,000-square-foot office building is 100 percent leased. Craig Eisenhardt of Jones Lang LaSalle represented the tenant in the transaction. Mack-Cali was represented in-house by Christopher DeLorenzo, first vice president of leasing.
Mitchell E. Hersh, Mack-Cali president and chief executive officer, commented, "I'm pleased to report that Mack-Cali continues to stand out as the landlord of choice. Our diverse portfolio of top-tier properties and our consistent level of superior service to both large and small tenants alike give us a strong advantage over the competition. These transactions clearly demonstrate that."
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," "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.