Mack-Cali Announces Second Quarter Leasing Activity at Westchester, Rockland, and Fairfield County Properties
08/06/2013 Category: Leasing and Development
Edison, New Jersey—August 6, 2013—Mack-Cali Realty Corporation (NYSE: CLI) today announced that it leased 400,239 square feet during the second quarter at its office and office/flex properties in Westchester and Rockland counties in New York and Fairfield County, Connecticut. Portfolio-wide, Mack-Cali leased 1,311,917 square feet of space during the quarter.
Highlights of the second quarter transactions include:
- Xand Operations, LLC, a provider of data center infrastructure and business continuity solutions, signed transactions totaling 131,078 square feet. The transactions consisted of a 46,078-square-foot renewal at 11 Skyline Drive and a 43,632-square-foot renewal and 41,368-square-foot expansion at 17 Skyline Drive, both in Hawthorne. With these leases Xand now leases both entire buildings, located in Mid-Westchester Executive Park. Mack-Cali was represented in-house by Carol A. McGuire, senior director of leasing.
- Evening Out, Inc., a dinner theatre operator, signed a lease renewal for the entire 32,720-square-foot office/flex building at 75 Clearbrook Road in Cross Westchester Executive Park in Elmsford. Mack-Cali was represented in-house by Danielle Rollins, director of leasing.
- Knighted, LLC, a developer of warehouse management and logistics software, signed a new lease for 30,000 square feet at 555 Taxter Road in Elmsford. The 170,554-square-foot office building, located in Taxter Corporate Park, is 86.3 percent leased. The tenant was represented in the transaction by Keith Cade, Dominick Soltero, and Glenn Walsh, all of Newmark Grubb Knight Frank. Mack-Cali was represented in-house by Louis Amalfitano, senior director of leasing.
- Fire-End & Croker Corporation, a provider of interior fire equipment, signed lease renewals totaling 17,407 square feet, consisting of a 12,621-square-foot renewal at 7 Westchester Plaza and a 4,786-square-foot renewal at 8 Westchester Plaza, both located in Cross Westchester Executive Park in Elmsford. 7 Westchester Plaza, a 46,200-square-foot office/flex building, is 100 percent leased. 8 Westchester Plaza, a 67,200-square-foot office/flex building, is also 100 percent leased. The tenant was represented in the transactions by Ian Ceppos and Al Gutierrez, both of CBRE. Mack-Cali was represented in-house by Ivan Abry, senior director of leasing.
- Westchester Community Opportunity Program, Inc., a private not-for-profit, multipurpose social service agency, signed a new 13,312-square-foot lease at 2 Westchester Plaza in Elmsford. The 25,000‑square‑foot office/flex building, located in Cross Westchester Executive Park, is 100 percent leased. The tenant was represented in the transaction by Paul Moulins of Rakow Commercial Realty Group. Mack-Cali was represented in-house by Carol A. McGuire.
Mitchell E. Hersh, president and chief executive officer, commented, “We are pleased with the level of leasing activity we saw during the quarter in Westchester, as well as the fact that we outperformed all of the markets in which we operate.”
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.