Mack-Cali Announces 115,000-Square-Foot Lease with Brown Brothers Harriman on the Jersey City Waterfront
07/23/2015 Category: Leasing and Development
Edison, New Jersey—July 23, 2015—Mack-Cali Realty Corporation (NYSE: CLI) today announced that Brown Brothers Harriman (BBH) has signed a new 11-year lease for 114,798 square feet at the Company’s Harborside Plaza 5 in Jersey City, New Jersey.
Moving within the Jersey City Waterfront market, BBH will transfer over 500 employees to their new location. Harborside Plaza 5 is a 977,225-square-foot, class A office tower located in the heart of Jersey City. The building features landscaped outdoor seating areas, restaurants, and breathtaking, panoramic views of the Manhattan skyline and New York Harbor. This premier asset is currently 99 percent leased.
Harborside, a highly successful waterfront complex, is being transformed into a next generation, interconnected, 24/7 mixed-use destination. Its inspirational working places and future aspirational living spaces—featuring a grand atrium, on-site Hyatt Regency, immediate access to the PATH station and light rail, as well as an incredible outdoor esplanade—provide tenants with a cutting-edge location for their business.
The tenant was represented in the transaction by Scott Gamber, Robert Stillman, Peter Gamber, and David Opper all of CBRE. Mack-Cali was represented by its in-house team of Chris DeLorenzo, senior vice president of leasing, and Tom Savoca, assistant vice president of leasing, as well as the CBRE team of Mark Ravesloot, Peter Turchin, Gerry Miovski, Suzanne Macnow, and Arkady Smolyansky.
Mitchell E. Rudin, chief executive officer of Mack-Cali, commented, “We’re thrilled to welcome Brown Brothers Harriman to the Mack-Cali portfolio. Harborside Plaza 5 was an ideal choice for BBH due to the efficiencies generated by the building’s large floor plates, modern design, state-of-the-art infrastructure, and premier telecom connectivity. We look forward to serving their needs for years to come. ”
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 278 properties, consisting of 259 office and office/flex properties totaling approximately 30.4 million square feet and 19 multi-family rental properties containing approximately 5,700 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.