Mack-Cali Announces Third Quarter Leasing Activity at Southern N.J., Maryland, and D.C. Properties
10/29/2014 Category: Leasing and Development
Edison, New Jersey—October 29, 2014—Mack-Cali Realty Corporation (NYSE: CLI) today announced that it leased 106,622 square feet at its office and office/flex commercial real estate properties in Southern New Jersey, Maryland, and Washington, D.C. Portfolio-wide, Mack-Cali leased 621,077 square feet of space during the quarter.
Highlights of the third quarter transactions include:
- EVO Merchant Services, LLC, a payments service provider, signed a renewal lease for 19,200 square feet at 102 Commerce Drive in Moorestown, New Jersey. Located in Moorestown West Corporate Center, the 38,400-square-foot office/flex building is 100 percent leased. The tenant was represented in the transaction by Jason Jones and Jim Bob Taylor, both of Cresa Atlanta.
- Tricomm Services Corporation, an IT technology service provider, is relocating within the building to 12,000 square feet at 1247 North Church Street, also in Moorestown. The transaction represents an expansion of 7,200 square feet and an extension of 4,800 square feet. Also located in Moorestown West Corporate Center, the 52,790-square-foot office/flex building is 86.7 percent leased.
- SCSK, a fully owned subsidiary of Sumisho Computer Systems Corporation, a Japanese IT services company, signed a new 9,600-square-foot lease at 3 Terri Lane in Burlington Township, New Jersey. Located in Bromley Commons, the 64,500-square-foot office/flex building is 100 percent leased.
Mack-Cali was represented in-house in all of these transactions by Tim O’Brien, senior director of leasing.
Mitchell E. Hersh, president and chief executive officer, commented, “We are pleased that so many of our tenants choose to renew and expand with Mack-Cali, evidence of our successful ‘Tenants First’ philosophy. We'd like to take this opportunity to extend our welcome to the new tenants joining the Mack-Cali portfolio. We look forward to serving your long-term business needs.”
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 282 properties, consisting of 266 office and office/flex properties totaling approximately 31.5 million square feet and 16 multi-family rental properties containing over 4,900 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.