Mack-Cali Announces Over 210,000 Square Feet Leased at its Southern N.J., Maryland, and D.C. Properties
04/28/2015 Category: Leasing and Development
Edison, New Jersey—April 28, 2015—Mack-Cali Realty Corporation (NYSE: CLI) today announced that it leased 210,902 square feet at its office and office/flex commercial real estate properties in Southern New Jersey, Maryland, and Washington D.C. during the first quarter. Portfolio-wide, Mack-Cali leased 758,919 square feet of space during the quarter.
Highlights of the first quarter transactions include:
- McKesson Patient Care Solutions Inc., a healthcare services and information technology company, signed a renewal for the entire 48,600-square-foot office/flex building at 2 Twosome Drive, located in Moorestown West Corporate Center in Moorestown, New Jersey. The tenant was represented in the transaction by Jon C. Sarkisian and Anthony Livecchi, both of CBRE. Mack-Cali was represented in-house by Tim O'Brien, senior director of leasing.
- Global technology company Pitney Bowes Software Inc. signed a 16,282-square-foot renewal at 4200 Parliament Place in Lanham, Maryland. The 122,000-square-foot office building is 97.4 percent leased. The tenant was represented in the transaction by Neil Beggy, formerly of Cushman & Wakefield, and Brad Jones of Cushman and Wakefield. Mack-Cali was represented in-house by Kenneth Smondrowski, senior director of leasing.
- Vision Realty, aka Don Mar Frame and Moulding, a distributor of picture framing materials, signed a 14,570-square-foot renewal at 915 North Lenola Road in Moorestown, New Jersey. The 52,488-square-foot office/flex building, located in Moorestown West Corporate Center, is 100 percent leased. Mack-Cali was represented in-house by Tim O’Brien.
- Law firm McNamee, Hosea, Jernigan, Kim, Greenan & Lynch, P.A. signed a 13,791-square-foot lease renewal at 6411 Ivy Lane in Capital Office Park in Greenbelt, Maryland. Mack-Cali was represented in-house by Kenneth Smondrowski.
Mitchell E. Hersh, president and chief executive officer, commented, “I am pleased to report that Mack-Cali continues to build on its reputation as landlord of choice as evidenced by these lease transactions.”
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 284 properties, consisting of 263 office and office/flex properties totaling approximately 30.9 million square feet and 21 multi-family rental properties containing approximately 6,100 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.