Mack-Cali Realty Corporation Signs Six Leases Totalling 260,000 Square Feet

Strategic Insights -

Mack-Cali Realty Corporation, a fully-integrated real estate investment trust, has announced the signing of six leases totaling over 260,000 square feet at its New Jersey office properties. The tenants include Ford Motor Company, Avaya, Inc., Aspen Technology, Inc., Allstate Insurance, Lucent Technologies, Inc., and GEAC Computers, Inc. These leases demonstrate Mack-Cali's ability to serve the real estate needs of leading global companies and its strength in its core Northeast markets.

Key Takeaways:

  • Mack-Cali Realty Corporation signed six leases totaling over 260,000 square feet at its New Jersey office properties.
  • The leases were signed with prominent companies including Ford Motor Company, Avaya, Inc., Aspen Technology, Inc., Allstate Insurance, Lucent Technologies, Inc., and GEAC Computers, Inc.
  • 200 Riser Road, a 286,628 square-foot office property adjacent to Teterboro Airport, is 100% leased.
  • 890 Mountain Avenue, an 80,000 square-foot office property, is 95% leased with Aspen Technology, Inc. signing a 10-year, 41,712 square-foot lease.
  • Mack-Cali owns or has interests in 267 properties, primarily office and office/flex buildings located in the Northeast, totaling approximately 28.2 million square feet.
  • The company provides management, leasing, development, construction, and other tenant-related services for its class A real estate portfolio.

Statistics:

  • Total square footage of leases: 260,000 square feet
  • Number of leases signed: 6
  • Total number of properties owned or interests in: 267
  • Total square footage of properties: 28.2 million square feet
  • Leased properties at 100% capacity: 2 (200 Riser Road & 65 Jackson Drive)

Sources:

  • Business Wire, Business Editors, CRANFORD, N.J.--(BUSINESS WIRE)--Dec. 13, 2000
  • Mack-Cali Realty Corporation's press release.