Mack-Cali Announces Second Quarter Leasing Activity at Westchester and Fairfield County Commercial Real Estate Properties
Edison, New Jersey—July 30, 2014—Mack-Cali Realty Corporation (NYSE: CLI) today announced that it leased 180,732 square feet during the second quarter at its office and office/flex commercial real estate properties in Westchester County in New York, and Fairfield County in Connecticut. Portfolio-wide, Mack-Cali leased 876,273 square feet of space during the quarter.
Highlights of the second quarter transactions include:
Evening Out, a dinner theatre operator, signed a lease renewal for the entire building at 75 Clearbrook Road in Elmsford. The 32,720-square-foot office/flex building is located in Cross Westchester Executive Park. Mack-Cali was represented in-house by Danielle Rollins, senior director of leasing.
The City of New York, Department of Citywide Administrative Services, signed a new lease for 20,285 square feet at 15 Skyline Drive in Hawthorne. The 55,000-square-foot office/flex building is located in Mid-Westchester Executive Park. The tenant was represented in the transaction by John D. Morrill, William V. Cuddy, Sean Wilson, and Rachna Desai-Jain, all of CBRE. Mack-Cali was represented in-house by Ivan Abry, assistant vice president of leasing.
Progressive Casualty Insurance Company, an insurance provider, signed lease transactions totaling 19,032 square feet at 1 Executive Boulevard in Yonkers. The transactions consisted of a 17,900-square-foot renewal and a 1,132-square-foot expansion. The 112,000-square-foot office building, located in South Westchester Executive Park, is 100 percent leased. The tenant was represented in the transaction by Glenn Walsh of Newmark Grubb Knight Frank. Mack-Cali was represented in-house by Ivan Abry.
The Play Place LLC, a children’s play facility, signed lease transactions totaling 15,427 square feet at 11 Clearbrook Road in Elmsford. The transactions consisted of an 8,677-square-foot renewal and a 6,750-square-foot expansion. The 31,800-square-foot office/flex building, also located in Cross Westchester Executive Park, is 100 percent leased. Mack-Cali was represented in-house by Carol A. McGuire, assistant vice president of leasing.
Mitchell E. Hersh, president and chief executive officer, commented, “We are pleased that so many of our tenants choose to renew and expand with Mack-Cali, proof that we deliver on our promise to provide an office experience that is unmatched in the industry. And, we welcome our new tenants to the Mack-Cali portfolio.
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 279 properties, consisting of 266 office and office/flex properties totaling approximately 31.5 million square feet and 13 multi-family rental properties containing approximately 3,900 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.