Mack-Cali Leases Over 417,000 Square Feet at its Northern and Central New Jersey Commercial Real Estate Properties in First Quarter
04/27/2015 Category: Leasing and Development
Edison, New Jersey—April 27, 2015—Mack-Cali Realty Corporation (NYSE: CLI) today announced that it leased 417,549 square feet at its office and office/flex commercial real estate properties in Northern and Central New Jersey 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:
- The MI Group Ltd., a global relocation outsource company, signed a new 26,148-square- foot lease at the 317,040-square-foot 5 Wood Hollow Road in Parsippany. The tenant was represented in the transaction by Marc Trevisan, Slava Vaynberg, and David Sherman, all of Cushman & Wakefield. Mack-Cali was represented in-house by Brian Decillis, assistant vice president of leasing.
- First Data Corporation, a global leader in payment technology and services solutions, signed an expansion lease for 24,221 square feet at 101 Hudson Street in Jersey City. The 1,246,283-square-foot office building is 89.6 percent leased. The tenant was represented in the transaction by Steven Rotter, Roby Bull, and Scott Panzer, all of Jones Lang LaSalle.
- Also at 101 Hudson Street, QH Acquisition Sub, LLC, a digital patient identification and engagement platform for health-focused companies and organizations, signed transactions totaling 16,478 square feet, consisting of a 12,437-square-foot renewal and a 4,041-square-foot expansion. The tenant was represented in the transaction by David Opper of CBRE. Mack-Cali was represented in-house by Thomas Savoca.
- Black and Veatch Corporation, an employee-owned, global leader in building Critical Human Infrastructure™ in energy, water, telecommunications, and government services, signed a 19,678-square-foot renewal at 650 From Road in Paramus. Mack-Cali Centre II is a 348,510-square-foot office building that is 86.6 percent leased. The tenant was represented in the transaction by Graham “Chip” Conklin and Timothy B. Monahan, both of Savills Studley. Mack-Cali was represented in-house by Richard Eyre, senior director of leasing.
- Kleinfelder, Inc., an engineering, architecture, and science consulting firm, signed a 15,896-square-foot renewal at 3 AAA Drive in Hamilton. The 35,270-square-foot office building is located in Horizon Center North. Mack-Cali was represented in-house by Erin Moran and John O’Hearn, both senior directors of leasing.
- Eagle Pharmaceuticals Inc., a specialty pharmaceutical company, signed transactions totaling 15,173 square feet at 50 Tice Boulevard in Woodcliff Lake, consisting of a 9,906-square-foot renewal and a 5,267-square-foot expansion. The 235,000-square-foot building is 91.3 percent leased. The tenant was represented by Christopher B. Marx, Christopher Hanenberg, and Michael Nieliwodski, all of Savills Studley. Mack-Cali was represented in-house by Chris DeLorenzo, senior vice president of leasing.
In addition, as previously announced, Securitas Security Services USA, Inc. signed a new lease for 81,282 square feet at 9 Campus Drive in the Mack-Cali Business Campus in Parsippany and Willis of New Jersey, Inc. signed a new 25,113-square-foot lease at 150 John F. Kennedy Parkway in Short Hills.
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.