Mack-Cali Announces Over 116,000-Square-Foot Lease with United Water Management in Paramus
07/23/2014 Category: Leasing and Development
Edison, New Jersey—July 23, 2014—Mack-Cali Realty Corporation (NYSE: CLI) today announced that United Water Management & Services, Inc., a sustainable water and wastewater management solutions provider, has signed a new 20-year, 116,360-square-foot lease at Mack-Cali Centre VI, 461 From Road, in Paramus, New Jersey.
Located in the heart of Bergen County, Mack-Cali Centre VI—a five-story, 253,554-square-foot office building—is 86.5-percent leased. The class A property offers tenants an on-site cafeteria, roving security, and numerous nearby amenities.
United Water was recently awarded $5.5 million in tax credits from the New Jersey Economic Development Authority (NJEDA), through its Grow New Jersey Assistance Program, to remain in the state.
Mitchell E. Hersh, president and chief executive officer of Mack-Cali, commented, "We’re delighted that United Water has chosen this premier property and we look forward to providing a superior work environment for years to come. This reflects the continued success of Mack-Cali’s strategy to build successful, long-term tenant relationships by maintaining high standards for both our properties and our services.”
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 279 properties, consisting of 266 office and office/flex properties totaling approximately 31.5 million square feet and 13 multi-family rental properties containing approximately 3,900 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 and the commercial real estate properties and multi-family residential communities available for lease can be found 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.