Mack-Cali Announces 25,000-Square-Foot Lease with Global Insurance Firm in Short Hills
03/26/2015 Category: Leasing and Development
Edison, New Jersey—March 26, 2015—Mack-Cali Realty Corporation (NYSE: CLI) today announced that Willis of New Jersey, Inc., a unit of Willis Group Holdings, the global risk adviser, insurance and reinsurance broker, has signed a new 10-year, six-month lease for 25,113 square feet 150 John F. Kennedy Parkway in Short Hills, New Jersey.
The class A 150 JFK Parkway—a five-story, 247,476-square-foot office building—features a state-of-the-art lobby and common areas with complimentary Wi-Fi, covered parking, and a premier location next to the Mall at Short Hills and the Hilton Short Hills. The building will serve as home for Willis of New Jersey’s retail insurance brokerage operations and will enable Willis to better serve its local clients.
The tenant was represented in the transaction by Laura Finamore of Cushman & Wakefield and Jack Feeney of Savills Studley. Mack-Cali was represented in-house by Diane Chayes, senior vice president of leasing.
Mitchell E. Hersh, president and chief executive officer of Mack-Cali, commented, “Given that we enjoy an exceptional relationship with Willis as our insurance broker, I had the pleasure of working on this transaction with Joe Gunn, Willis national partner–Northeast region, and Owen Bowes, senior vice president. We’re pleased to welcome Willis to 150 JFK Parkway. Willis was formerly a tenant at our 14 Commerce Drive property in Cranford, N.J. We look forward to serving each other’s needs for many 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 282 properties, consisting of 263 office and office/flex properties totaling approximately 30.9 million square feet and 19 multi-family rental properties containing approximately 5,400 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.