Mack-Cali Announces Second Quarter Leasing Activity at Suburban Philadelphia and Southern N.J. Properties
08/05/2013 Category: Leasing and Development
Edison, New Jersey—August 5, 2013—Mack-Cali Realty Corporation (NYSE: CLI) today announced that it leased 143,159 square feet at its office and office/flex properties in the Suburban Philadelphia and Southern New Jersey markets during the second quarter. Portfolio-wide, Mack-Cali leased 1,311,917 square feet of space during the quarter.
Highlights of the second quarter transactions include:
- BAYADA Home Health Care, a provider of home health care services, signed transactions totaling 43,970 square feet consisting of a 29,265-square-foot renewal at 101 Executive Drive, a 5,400-square-foot renewal at 1 Executive Drive, and a 9,305-square-foot new lease at 2 Executive Drive, all office/flex properties located in Moorestown West Corporate Center in Moorestown. 101 Executive Drive is a 29,355-square-foot building which is 99.7 percent leased. 1 Executive Drive is a 20,570-square-foot building which is 90.8 percent leased, and the 60,800-square-foot 2 Executive Drive is 81.1 percent leased. Mack-Cali was represented in-house by Tim O’Brien, director of leasing.
- Anexinet Corp., a systems integrator and technology management company, signed lease transactions totaling 19,584 square feet, consisting of a renewal for 15,980 square feet and a 3,604-square-foot expansion at 4 Sentry Park in Blue Bell, Pennsylvania. The 63,930-square-foot office building is 89.1 percent leased. The tenant was represented in the transaction by Jeffrey Barker and Kim Finnerty, both of Cushman & Wakefield. Mack-Cali was represented in-house by Jake Fruncillo, director of leasing.
- Parkeon Inc., a leader in multi-space parking systems, signed a 14,865-square-foot renewal lease at 40 Twosome Drive, also at Moorestown West Corporate Center. The 40,265-square-foot office/flex building is 86.6 percent leased. The tenant was represented in the transaction by Ian Richman of Colliers International. Mack-Cali was represented in-house by Tim O’Brien.
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 272 properties consisting of 263 office and office/flex properties totaling approximately 30.5 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.