Mack-Cali Announces Third Quarter Leasing Activity at Westchester and Fairfield County Commercial Real Estate Properties
Edison, New Jersey—October 28, 2014—Mack-Cali Realty Corporation (NYSE: CLI) today announced that it leased 184,575 square feet 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 621,077 square feet of space during the quarter.
Highlights of the third quarter transactions include:
Internet grocer Peapod LLC signed a new lease for 18,000 square feet at 175 Clearbrook Road in Elmsford. Located in Cross Westchester Executive Park, the 98,900-square-foot office/flex building is 96.7 percent leased. The tenant was represented in the transaction by Howard Greenberg of Howard Properties, Ltd. Mack-Cali was represented in-house by Ivan Abry, assistant vice president of leasing.
Also at 175 Clearbrook Road, Matthews International Corporation, a designer, manufacturer, and marketer of memorialization products and brand solutions, signed a new lease for 13,000 square feet. The tenant was represented in the transaction by Craig Ruoff and Paul Haight-Moulins, both of Rakow Commercial Realty Group. Mack-Cali was represented in-house by Ivan Abry.
Wright Brothers Services, Inc., specializing in freight transportation, signed lease transactions totaling 12,120 square feet consisting of a 5,255-square-foot renewal at 150 Clearbrook Road and a 6,865-square-foot renewal at 200 Clearbrook Road, both in Elmsford. Located in Cross Westchester Executive Park, 150 Clearbrook Road, a 74,900-square-foot office/flex building, is 99.3 percent leased and 200 Clearbrook Road, a 94,000-square-foot office/flex building, is 98.8 percent leased. Mack-Cali was represented in-house by Danielle Rollins, senior director of leasing.
Sekisui Diagnostics, LLC, a provider of differentiated products, instrument systems, and services that support the improvement of patient care, signed an 11,549-square-foot lease renewal at 500 West Avenue in Stamford, Connecticut. Located in Stamford Executive Park, the 25,000-square-foot office/flex building is 100 percent leased. The tenant was represented in the transaction by Judd McArthur of Cassidy Turley. 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, evidence of our successful ‘Tenants First’ philosophy. We'd like to take this opportunity to extend our welcome to the new tenants joining the Mack-Cali portfolio. We look forward to serving your long-term business needs.”
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 266 office and office/flex properties totaling approximately 31.5 million square feet and 16 multi-family rental properties containing over 4,900 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.