Mack-Cali Announces Fourth Quarter Leasing Activity at Westchester County Properties
02/13/2013 Category: Leasing and Development
Edison, New Jersey—February 13, 2013—Mack-Cali Realty Corporation (NYSE: CLI) today announced that it leased 242,310 square feet during the fourth quarter at its office and office/flex properties in Westchester County, New York. Portfolio-wide, Mack-Cali leased 1,147,218 square feet of space during the quarter.
Highlights of the fourth quarter transactions include:
- Nestlé Waters North America, Inc., the bottled water company, signed a renewal for 47,232 square feet at 5 Warehouse Lane in Elmsford. Located in Elmsford Distribution Center, the 75,100-square-foot industrial/warehouse building is 97.1 percent leased. The tenant was represented in the transaction by Frank W. Truesdell and Torey Piccini, both of Jones Lang LaSalle. Mack-Cali was represented in-house by Ivan Abry, senior director of leasing.
- HQ Global Workplaces LLC, a provider of workplace solutions, signed a renewal lease for 22,064 square feet at 50 Main Street in White Plains. The 309,000-square-foot office building, located in Westchester Financial Center, is 85.2 percent leased. The tenant was represented in the transaction by David Block of CBRE. Mack-Cali was represented in-house by Louis Amalfitano, senior director of leasing.
- Bronx-Lebanon Hospital Center signed transactions totaling 20,625 square feet at
1 Executive Boulevard in Yonkers. The transactions consisted of an 18,140-square-foot lease renewal and a 2,485-square-foot expansion. The 112,000-square-foot office building, located in South Westchester Executive Park, is 100 percent leased. Mack-Cali was represented in-house by Carol McGuire, senior director of leasing.
- Montefiore Medical Center signed lease transactions totaling 13,512 square feet consisting of a 9,170-square-foot renewal at 1 Executive Boulevard and a new 4,342-square-foot lease at 3 Executive Boulevard, leaving only a small vacancy at that building. Both buildings are located in South Westchester Executive Park in Yonkers. The tenant was represented in the transaction by Glenn Walsh and Greg Frisoli, both formerly of Cushman & Wakefield. Mack-Cali was represented in-house by Carol McGuire.
In addition, Mack-Cali previously announced that Barrie House Coffee, a leading coffee manufacturing and allied product distribution company, signed a new lease for 67,721 square feet at 4 Warehouse Lane at Elmsford Distribution Center in Elmsford. The tenant was represented in the transaction by Andrew Grossman of NAI Friedland. Mack-Cali was represented in-house by Ivan Abry.
Mitchell E. Hersh, president and chief executive officer, commented, “While overall market activity continues to be slow, we are pleased with the leasing activity we are seeing in the Westchester County market, 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 271 office and office/flex properties totaling approximately 31.6 million square feet and seven multi-family rental properties containing over 2,000 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.