Mack-Cali Leases Over 518,000 Square Feet in Northern and Central New Jersey

On Feb 24, 2015

Mack-Cali Realty Corporation announces that it leased 518,234 square feet at its office and office/flex commercial real estate properties in Northern and Central New Jersey 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:

•        Cisco Systems Inc., a worldwide leader in IT, signed a new lease for 35,446 square feet at 4 Gatehall Drive in Parsippany. The 248,480-square-foot office building, located in Mack-Cali Business Campus, is 84.9 percent leased. The tenant was represented in the transaction by Dan De Palma and Brian Gropler, both of Jones Lang LaSalle. Mack-Cali was represented in-house by Diane Chayes, senior vice president of leasing.

•        Atlantic Inertial Systems, Inc., a provider of high technology products and services to the building and aerospace industries, signed a lease renewal for 19,854 square feet at 20 Commerce Way in Totowa. The 42,540-square-foot office/flex building, located in Mack-Cali Commercenter, is 95.5 percent leased. The tenant was represented in the transaction by Jason Fray of Cushman & Wakefield. Mack-Cali was represented in-house by Thomas Savoca, assistant vice president of leasing.

•        U.S. General Services Administration (GSA) signed a lease renewal for 19,676 square feet at 343 Thornall Street in Edison. The 195,709-square-foot office building is 98.4 percent leased. The tenant was represented in the transaction by David Lipson, Ken Ruderman, and Neil Levy, all of Savills Studley. Mack-Cali was represented in-house by Toni Casiano, assistant vice president of leasing.

•        Federal Farm Credit Banks Funding Corporation, a provider of loans, leases, and services to U.S. agriculture and rural America, signed a new lease for 19,225 square feet at 101 Hudson Street in Jersey City. The 1,246,283-square-foot office building is 87.0 percent leased. The tenant was represented in the transaction by Robert Goodman and Richard Mirliss, both of Colliers International. Mack-Cali was represented in house by Thomas Savoca, assistant vice president of leasing.

•        Law firm Connell Foley LLP signed transactions totaling 17,411 square feet consisting of a 12,987-square-foot renewal and a 4,424-square-foot expansion at Harborside Plaza 5 in Jersey City. The 977,225-square-foot office building is 87.0 percent leased. The tenant was represented in the transaction by Thomas Reilly, Dan Loughlin, and Tom Stanton, all of Jones Lang LaSalle.

In addition, Mack-Cali previously announced that New Jersey City University (NJCU) signed a new lease for 68,348 square feet at Harborside Plaza 2 in Jersey City.

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.”

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