Mack-Cali Leases Over 329,000 Square Feet at Northern and Central New Jersey Commercial Real Estate Properties in Third Quarter
10/27/2014 Category: Leasing and Development
Edison, New Jersey—October 27, 2014—Mack-Cali Realty Corporation (NYSE: CLI) today announced that it leased 329,880 square feet at its office and office/flex commercial real estate properties in Northern and Central New Jersey during the third quarter. Portfolio-wide, Mack-Cali leased 621,077 square feet of space during the quarter.
Highlights of the third quarter transactions include:
- First Data Corporation, a global payment processing company, signed a new lease for 24,179 square feet at 101 Hudson Street in Jersey City. The 1,246,283-square-foot office tower is 86.1 percent leased. The tenant was represented in the transaction by Steven Rotter, Roby Bull, and Scott Panzer, all of Jones Lang LaSalle.
- Accounting firm KPMG signed an expansion lease for 17,085 square feet at 300 Tice Boulevard in Woodcliff Lake. The 230,000-square-foot office building is 100 percent leased. The tenant was represented in the transaction by Kenneth J. Boland, Jeffrey Babikian, and Patrick Murphy, all of CBRE. Mack-Cali was represented in-house by Christopher DeLorenzo, senior vice president of leasing.
- Law firm Eltman Eltman & Cooper signed a new lease for 16,902 square feet, also at 101 Hudson Street in Jersey City. The tenant was represented in the transaction by John Harte and Joseph Genovesi, both of Savills Studley. Mack-Cali was represented in-house by Thomas Savoca, assistant vice president of leasing.
- Jacobs Engineering Group Inc., providers of technical professional and construction services, signed a new lease for 12,727 square feet at 100 Walnut Avenue in Clark. The 182,555-square-foot office building is 90.1 percent leased. The tenant was represented in the transaction by Marc Rosenberg and Eric Olofson, both of Cushman & Wakefield. Mack-Cali was represented in-house by Toni Casiano, assistant vice president 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.