Mack-Cali Announces Third Quarter Leasing Activity at Westchester County Commercial Real Estate Properties
11/05/2013 Category: Leasing and Development
Edison, New Jersey—November 5, 2013—Mack-Cali Realty Corporation (NYSE: CLI) today announced that it leased 207,232 square feet during the third quarter at its office and office/flex commercial real estate properties in Westchester County in New York. Portfolio-wide, Mack-Cali leased 980,600 square feet of space during the quarter.
Highlights of the third quarter transactions include:
- Wright Brothers Services, specializing in freight transportation, signed transactions totaling 18,845 square feet. The transactions consisted of a 5,255-square-foot renewal at 150 Clearbrook Road and a 6,685-square-foot renewal at 200 Clearbrook Road, both located in Cross Westchester Executive Park in Elmsford, as well as a 6,725-square-foot expansion at 1 Odell Plaza, located in South Westchester Executive Park, in Yonkers. 150 Clearbrook Road, a 74,900-square-foot office/flex building, is 100 percent leased and 200 Clearbrook Road, a 94,000-square-foot office/flex building, is 99.8 percent leased. 1 Odell Plaza, a 106,000-square-foot office/flex building, is 97.2 percent leased. Mack-Cali was represented in-house by Danielle Rollins, director of leasing.
- JPMorgan Chase Bank, a global financial services firm, signed a renewal for 15,880 square feet at 11 Martine Avenue in White Plains. The 180,000-square-foot office building, located in Westchester Financial Center, is 77.7 percent leased. The tenant was represented in the transaction by Gerald Lees of Cushman & Wakefield. Mack-Cali was represented in-house by Carol A. McGuire, senior director of leasing.
- Micromold Products, Inc., a manufacturer of highly corrosion resistant fluid-flow equipment, signed a new 12,991-square-foot lease at 7 Odell Plaza in Yonkers. The 42,600-square-foot office/flex building, located in South Westchester Executive Park, is 100 percent leased. The tenant was represented in the transaction by Howard Greenberg of Howard Properties, Ltd. Mack-Cali was represented in-house by Ivan Abry, senior director of leasing.
- ADT LLC, a provider of electronic security, interactive home and business automation, and monitoring services, signed a 11,420-square-foot renewal at 125 Clearbrook Road in Elmsford. Located in Cross Westchester Executive Park, this 33,000-square-foot office/flex building is 93.6 percent leased. The tenant was represented in this transaction by Paul Jacobs of CBRE. Mack-Cali was represented in‑house by Ivan Abry.
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 continue to be the preferred provider of office space in 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 275 properties consisting of 266 office and office/flex properties totaling approximately 30.7 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.