Mack-Cali Announces New Leases Totaling over 100,000 Square Feet in New York City and Parsippany, New Jersey
EDISON, N.J.--(BUSINESS WIRE)-- Mack-Cali Realty Corporation (NYSE: CLI) today announced that it signed new leases totaling 104,213 square feet at two of its properties.
Herzfeld & Rubin, P.C., a full-service global law firm specializing in all phases of litigation, is relocating its corporate headquarters to 125 Broad Street in Downtown Manhattan. The firm signed a 56,322-square-foot lease with a 20-year term.
Mack-Cali owns condominium interests totaling 524,476 square feet, or 39.6 percent, of the class A office tower. Mack-Cali's ownership interests in the building are 100 percent leased. The tenant was represented by Marc R. Shapses, Joseph J. Messina, and Jason Schwartzenberg of Studley.
In addition, Mack-Cali signed a new 12-year lease for a full floor consisting of 47,891 square feet at One Sylvan Way, Mack-Cali Business Campus in Parsippany, NJ, with Global Aerospace, Inc., to serve as the U.S. headquarters for the world's leading aerospace insurer. The tenant was represented by Kenneth Flynn, Jr. of Jones Lang LaSalle.
Global Aerospace is taking space just vacated by Wyndham Worldwide Operations, which has moved its corporate headquarters to 22 Sylvan Way--a recently completed 250,000-square-foot building that was developed for the firm by Mack-Cali Realty Corporation and that is also located in the Mack-Cali Business Campus.
Mitchell E. Hersh, Mack-Cali president and chief executive officer, commented, "We are delighted to welcome two new world-class tenants to our portfolio of premier properties. The location and amenities offered by 125 Broad Street make it one of Downtown Manhattan's most prestigious business addresses. And the Mack-Cali Business Campus continues to attract office tenants from many locations that desire first-class facilities in an optimal suburban location."
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 294 properties, primarily office and office/flex buildings located in the Northeast, totaling approximately 33.8 million square feet. The properties enable the Company to provide a full complement of real estate opportunities to its diverse base of approximately 2,100 tenants.
Additional information on Mack-Cali Realty Corporation is available 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," "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.
Source: Mack-Cali Realty Corporation
Released May 20, 2009