Mack-Cali Leases 189,157 Square Feet, Prices Senior Notes

EDISON, NJ-During the second quarter, Mack-Cali Realty Corp. completed 189,157 square feet of leases at its properties in New Jersey. In another move, the locally based REIT offered up senior unsecured notes for sale.

Of the 11 leases transacted by Mack-Cali properties in New Jersey, the largest was a 19,503-square-foot contract signed by Fazio, Mannuzza, Roche, Tankel, LaPilusa LLC, an accounting, tax and business advisory services firm, at 20 Commerce Dr. in Cranford. Marc Rosenberg and Jon Williams of Cushman & Wakefield of New Jersey Inc. advised the tenant in the 11-year deal. Mack-Cali was represented in-house by Toni Casiano, senior director of leasing. The 176,600-square-foot, class A office property located at Cranford Business Park is 99.8% occupied.

Also, Community Behavioral Healthcare Network of Pennsylvania Inc., a subsidiary of AmeriHealth Mercy Family of Cos., signed a new 18,302-square-foot lease at 300 Horizon Center in Hamilton Township, for five years and one month. Located in Horizon Center Business Park, the 69,780-square-foot office/flex property is fully leased. Alfred W. Schwacke and Christopher Rink of NorthMarq Advisors spoke for the tenant. Mack-Cali was represented in-house by John O’Hearn, director of leasing.

“These lease transactions are clear examples of an ongoing trend in the marketplace,” said Mitchell E. Hersh, Mack-Cali president and chief executive officer, in a statement. “Organizations are continuing to choose to locate in high-quality buildings in the best locations.”

The other deals are: