Mack-Cali Leases Over 260,000 Square Feet at Westchester and Fairfield County Commercial Real Estate Properties in Fourth Quarter
02/25/2015 Category: Leasing and Development
Edison, New Jersey—February 25, 2015—Mack-Cali Realty Corporation (NYSE: CLI) today announced that it leased 260,872 square feet at its office, office/flex, and industrial commercial real estate properties in Westchester County in New York, and Fairfield County in Connecticut during the fourth quarter. Portfolio-wide, Mack-Cali leased 923,410 square feet of space during the quarter.
Highlights of the fourth quarter transactions include:
- Fabrication Enterprises, Inc., a manufacturer, importer, and master distributor of products for physical and occupational therapy, athletic training, and home care, signed a transaction totaling 81,394 square feet at 250 Clearbrook Road in Elmsford, representing a renewal of 33,659 square feet and expansion of 47,735 square feet. The 155,000-square-foot office/flex building, located in Cross Westchester Executive Park, is 95.1 percent leased. Mack-Cali was represented in-house by Ivan Abry, assistant vice president of leasing.
- Immucor, Inc., a global leader in transfusion and transplantation diagnostics that facilitate patient-donor compatibility, signed a lease renewal for 36,928 square feet at 550 West Avenue in Stamford. The 54,000-square-foot office/flex building, located in Stamford Executive Park, is 81.3 percent leased. The tenant was represented in the transaction by Jesse Weber of Newmark Grubb Knight Frank. Mack-Cali was represented in-house by Louis Amalfitano, senior director of leasing.
- Westinghouse Air Brake Technologies Corporation, a provider of value-added, technology-based equipment and services for the global rail industry, signed a lease renewal for 28,000 square feet at 4 Warehouse Lane in Elmsford. The 195,500-square-foot industrial building, located in Elmsford Distribution Center, is 97.0 percent leased. The tenant was represented in the transaction by Kevin Langtry of CBRE. Mack-Cali was represented in-house by Ivan Abry.
- Retrieval-Masters Creditors Bureau Inc., a leading recovery agency for consumer collections, signed transactions totaling 15,100 square feet at 4 Westchester Plaza in Elmsford, consisting of a 10,100-square-foot renewal and a 5,000-square-foot expansion. The 44,700-square-foot office/flex building, located in Cross Westchester Executive Park, is 100 percent leased. Mack-Cali was represented in-house by Ivan Abry.
Mitchell E. Hersh, president and chief executive officer, commented, “Mack-Cali had a successful fourth quarter, increasing our office building occupancy through significant leasing activity. We are pleased to continue to be the preferred provider of office space in the markets in which we operate.”
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 5,484 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.