Jones Lang LaSalle
Mack-Cali Signs 92,000 SF of Leases
By Eric Peterson
CRANFORD, NJ-Mack-Cali Realty Corp. has just signed two leases totaling more than 92,000 sf of office space at two of the REIT's properties, including one just folded into its portfolio as part of the Gale Real Estate Services Co. acquisition. The latter signing came at Four Campus Dr. in Parsippany, NJ and involves Omnipoint Communications, dba T-Mobile, which took 48,875 sf in addition to its existing 100,000 sf within the Mack-Cali Business Campus.
In that signing, Richard Rosenhaus of Rosenhaus Realty represented Omnipoint, while Jane Greenblatt, Mack-Cali's SVP of leasing and development repped the REIT. The lease runs for eight years; further terms were not released. Four Campus Dr. is a 147,475-sf class A building, currently 96% leased, within the 16-building, two million-sf Mack-Cali Business Campus. "The recent [Gale] acquisitions have increased our holdings in the Parsippany area and have enhanced our ability to meet tenants' needs as their space requirements evolve," says Mitchell E. Hersh, the REIT's president and CEO.
In the second signing, RadPharm Inc., a provider of medical imaging and review services, has taken 43,486 sf for five years at Princeton Overlook Center, a four-story, 149,600-sf building in Princeton, NJ. The signing brings the building to 100% occupancy. The deal also marks a major HQ expansion for RadPharm, which is relocating from its current 18,600 sf of space at 103 Carnegie Center in Princeton, another Mack-Cali property. Dan Ackerman, in-house director of leasing, repped Mack-Cali in the signing.
In other Mack-Cali news, company officials have announced the results of the REIT's annual meeting. Hersh, John R. Cali, Irvin D. Reid and Robert F. Weinberg have all been reelected to the board of directors for three-year terms. Also, stockholders ratified the re-appointment of PricewaterhouseCoopers LLP as the company's independent registered public accountant for the fiscal year ending December 31, 2006. Finally, no formal action was taken on a proposal that the company amend its corporate charter documents to adopt a majority vote standard for election to the board of directors. The action was forestalled because no representative of the stockholder-proponent was present to introduce it.
Copyright © 2006 ALM Properties, Inc. All rights reserved. Reproduction in whole or in part without permission is prohibited.
Mack-Cali Signs 92,000 SF of Leases
By Eric Peterson
CRANFORD, NJ-Mack-Cali Realty Corp. has just signed two leases totaling more than 92,000 sf of office space at two of the REIT's properties, including one just folded into its portfolio as part of the Gale Real Estate Services Co. acquisition. The latter signing came at Four Campus Dr. in Parsippany, NJ and involves Omnipoint Communications, dba T-Mobile, which took 48,875 sf in addition to its existing 100,000 sf within the Mack-Cali Business Campus.
In that signing, Richard Rosenhaus of Rosenhaus Realty represented Omnipoint, while Jane Greenblatt, Mack-Cali's SVP of leasing and development repped the REIT. The lease runs for eight years; further terms were not released. Four Campus Dr. is a 147,475-sf class A building, currently 96% leased, within the 16-building, two million-sf Mack-Cali Business Campus. "The recent [Gale] acquisitions have increased our holdings in the Parsippany area and have enhanced our ability to meet tenants' needs as their space requirements evolve," says Mitchell E. Hersh, the REIT's president and CEO.
In the second signing, RadPharm Inc., a provider of medical imaging and review services, has taken 43,486 sf for five years at Princeton Overlook Center, a four-story, 149,600-sf building in Princeton, NJ. The signing brings the building to 100% occupancy. The deal also marks a major HQ expansion for RadPharm, which is relocating from its current 18,600 sf of space at 103 Carnegie Center in Princeton, another Mack-Cali property. Dan Ackerman, in-house director of leasing, repped Mack-Cali in the signing.
In other Mack-Cali news, company officials have announced the results of the REIT's annual meeting. Hersh, John R. Cali, Irvin D. Reid and Robert F. Weinberg have all been reelected to the board of directors for three-year terms. Also, stockholders ratified the re-appointment of PricewaterhouseCoopers LLP as the company's independent registered public accountant for the fiscal year ending December 31, 2006. Finally, no formal action was taken on a proposal that the company amend its corporate charter documents to adopt a majority vote standard for election to the board of directors. The action was forestalled because no representative of the stockholder-proponent was present to introduce it.
Copyright © 2006 ALM Properties, Inc. All rights reserved. Reproduction in whole or in part without permission is prohibited.
posted by Jones Lang LaSalle NJ News Blog at 9:33 AM
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