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