Mack-Cali Leases Over 600,000 Square Feet at Northern and Central New Jersey Properties in First Quarter
04/30/2012 Category: Leasing and Development
Edison, New Jersey—April 30, 2012—Mack-Cali Realty Corporation (NYSE: CLI) today announced that it leased 622,361 square feet at its office and office/flex properties in northern and central New Jersey during the first quarter. Portfolio-wide, Mack-Cali leased 1,098,191 square feet of space during the quarter.
Highlights of the first quarter transactions include:
- A global engineering company signed a 39,060-square-foot lease renewal at 200 Horizon Drive in Hamilton. The 45,770-square-foot office/flex building, located in Horizon Center Business Park, is 100 percent leased. Mack-Cali was represented in-house by Diane Chayes, senior vice president of leasing.
- Lehman Brothers Holdings, Inc., a global financial services firm, signed transactions totaling 33,258 square feet, including a 30,542-square-foot relocation and a 2,716-square-foot renewal at 101 Hudson Street in Jersey City. The 1,246,283-square-foot office building is 89.5 percent leased. Mack-Cali was represented in-house by Thomas Savoca, senior director of leasing.
- Wells Fargo Advisors, LLC, a financial services firm, signed a new 29,391-square-foot lease at Mack-Cali Centre VI at 461 From Road in Paramus. The tenant was represented in the transaction by Kevin Murphy of Newmark Knight Frank.
- MannKind Corporation, a biopharmaceutical company, signed a 22,746-square-foot lease renewal at Mack-Cali Centre IV at 61 South Paramus Road in Paramus. The tenant was represented in the transaction by Dan DePalma of Jones Lang LaSalle. Mack-Cali was represented in-house by Christopher DeLorenzo, senior vice president of leasing.
- The State of New Jersey signed a new 23,316-square-foot lease at 201 Littleton Road in Morris Plains. The 88,369-square-foot office building is 77.7 percent leased. Mack-Cali was represented in-house by Brian Decillis, senior director of leasing, and Janice Grosso, leasing assistant.
- Rockwood Specialties, Inc., a chemicals and advanced materials company, signed a 19,753-square-foot lease renewal at Princeton Overlook I at 100-overlook-center in Princeton. The 149,600-square-foot office building is 89.6 percent leased. The tenant was represented in the transaction by Harlan Hollander of Cushman & Wakefield of New Jersey. Mack-Cali was represented in-house by Erin Moran and John O’Hearn, both directors of leasing.
In addition, Mack-Cali previously announced a new 76,892-square-foot lease with Tower Insurance Company of New York at Harborside Financial Center Plaza 2 on the Jersey City Waterfront.
Mitchell E. Hersh, Mack-Cali president and chief executive officer, commented, “These transactions clearly demonstrate that our “Tenants First” philosophy strengthens our reputation as a premier landlord, as we’ve had many successes in attracting new tenants, as well as retaining our existing tenants.”
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,” “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.