Mack-Cali Announces 115,000-SF Lease with Brown Brothers Harriman on the Jersey City Waterfront

On Jul 23, 2015

Mack-Cali Realty Corporation (NYSE: CLI) today announced that Brown Brothers Harriman (BBH) has signed a new 11-year lease for 114,798 square feet at the Company’s Harborside Plaza 5 in Jersey City.

Moving within the Jersey City Waterfront market, BBH will transfer over 500 employees to their new location. Harborside Plaza 5 is a 977,225-square-foot, class A office tower located in the heart of Jersey City. The building features landscaped outdoor seating areas, restaurants, and breathtaking, panoramic views of the Manhattan skyline and New York Harbor. This premier asset is currently 99 percent leased.

Harborside, a highly successful waterfront complex, is being transformed into a next generation, interconnected, 24/7 mixed-use destination. Its inspirational working places and future aspirational living spaces—featuring a grand atrium, on-site Hyatt Regency, immediate access to the PATH station and light rail, as well as an incredible outdoor esplanade—provide tenants with a cutting-edge location for their business.

The tenant was represented in the transaction by Scott Gamber, Robert Stillman, and Peter Gamber, all of CBRE. Mack-Cali was represented by its in-house team of Chris DeLorenzo, senior vice president of leasing, and Tom Savoca, assistant vice president of leasing, as well as the CBRE team of Mark Ravesloot, Peter Turchin, Gerry Miovski, Suzanne Macnow, and Arkady Smolyansky.

Mitchell E. Rudin, chief executive officer of Mack-Cali, commented, “We’re thrilled to welcome Brown Brothers Harriman to the Mack-Cali portfolio. Harborside Plaza 5 was an ideal choice for BBH due to the efficiencies generated by the building’s large floor plates, modern design, state-of-the-art infrastructure, and premier telecom connectivity. We look forward to serving their needs for years to come. ”

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 278 properties, consisting of 259 office and office/flex properties totaling approximately 30.4 million square feet and 19 multi-family rental properties containing approximately 5,700 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.

 

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