Mack-Cali Announces First Quarter Leasing Activity at Westchester and Fairfield County Properties
05/01/2013 Category: Leasing and Development
Edison, New Jersey—May 1, 2013—Mack-Cali Realty Corporation (NYSE: CLI) today announced that it leased 235,325 square feet during the first quarter at its office and office/flex properties in Westchester County, New York and Fairfield County, Connecticut. Portfolio-wide, Mack-Cali leased 1,028,903 square feet of space during the quarter.
Highlights of the first quarter transactions include:
- Publishers Circulation Fulfillment, Inc., a provider of distribution solutions for publications, signed a 24,112-square-foot renewal at 300 Executive Boulevard in Elmsford, New York. The 60,000-square-foot office/flex building, located in Cross Westchester Executive Park, is 100 percent leased. Mack-Cali was represented in-house by Ivan Abry, senior director of leasing.
- First Niagara Risk Management, a multi-state bank through its wholly owned subsidiary, First Niagara Bank, N.A., signed a renewal and expansion lease for 14,767 square feet at 40 Richards Avenue in Norwalk, Connecticut. The 145,487-square-foot office building is 69.6 percent leased. The tenant was represented in the transaction by Jodie Dostal and Bob Motley, both of Cushman & Wakefield. Mack-Cali was represented in-house by Louis Amalfitano, senior director of leasing.
- Fabrication Enterprises, Inc., a manufacturer, importer and master distributor of products for physical and occupational therapy, rehabilitation, athletic training, sports medicine and homecare, signed a 12,942-square-foot expansion lease at 250 Clearbrook Road in Elmsford, New York. The 155,000-square-foot office/flex building, located in Cross Westchester Executive Park, is 97.8 percent leased. Mack-Cali was represented in-house by Ivan Abry.
- Honeywell International Inc., a Fortune 500 diversified technology and manufacturing leader providing aerospace products and services, signed a 12,900-square-foot lease renewal at 125 Clearbrook Road in Elmsford, New York. Also located in Cross Westchester Executive Park, this 33,000-square-foot office/flex building 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, president and chief executive officer, commented, “While overall markets continue to be challenging, we are pleased with the leasing activity we are seeing in the Westchester and Fairfield county markets, where we continue to attract and retain high-credit quality 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 278 properties consisting of 269 office and office/flex properties totaling approximately 31.1 million square feet and nine multi-family rental properties containing over 3,300 residential units, all located in the Northeast. The properties enable the Company to provide a full complement of real estate opportunities to its diverse base of commercial and residential 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.