Howard Properties, Ltd. one of top Q1 dealmakers for Mack-Cali

MACK-CALI LEASES 1.1 MILLION SQUARE FEET DURING THE FIRST QUARTER

Edison, New JerseyApril 7, 2016Mack-Cali Realty Corporation (NYSE: CLI) today announced that it executed 82 leases totaling 1.1 million square feet for its office and flex commercial real estate properties during the quarter ended March 31, 2106. This represents a 45 percent increase over the 758,919-square-foot activity for the same period last year. Of the 1.1 million square feet leased, 386,000 square feet (35 percent) were for new leases and 740,000 square feet (65 percent) were for lease renewals and other tenant transactions. At quarter end, Mack-Cali’s Core, Flex, and Waterfront properties achieved 90.3 percent leased, while its Non-Core properties were 75.7 percent leased. The total percentage leased for the Company is 87.2 percent, up 100 basis points from year-end 2015. The first quarter leases had a direct impact on the Company’s 2017 expirations, reducing the total by 330,000 square feet.

WESTCHESTER COUNTY, NY

• Securitas Electronic Security, a provider of security solutions, signed a 32,250-square-foot lease renewal at 3 Westchester Plaza in Cross Westchester Executive Park, Elmsford. The tenant was represented in the transaction by William V. Cuddy, Jr. and Timothy C. Donohue, both of CBRE.
• Montefiore Medical Center signed a 28,430-square-foot lease renewal at 4 Executive Plaza in South Westchester Executive Park, Yonkers. The tenant was represented in the transaction by Glenn Walsh and Gregory V. Frisoli, both of Newmark Grubb Knight Frank.
• Law firm Traub Lieberman Straus & Shrewsberry LLP signed a 28,007-square-foot lease renewal at 7 Skyline Drive in Mid-Westchester Executive Park, Hawthorne. The tenant was represented in the transaction by Howard Greenberg of Howard Properties Ltd.

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