Mack-Cali signs 15-year NJ lease

Real Estate Weekly, Jan 2, 2002

Mack-Cali Realty Corporation announced it has signed a 15-year, 111,451-SF lease with Garban Intercapital North America Inc. for office space at Harborside Financial Center Plaza 5 in Jersey City, N.J.

Harborside Financial Center Plaza 5 is a 34-story, 980,000-SF class A office building that is under development and due to be completed in late 2002. Garban Intercapital North America Inc. is a wholly-owned subsidiary of ICAP plc, the world's largest inter-dealer broker. Garban Intercapital previously occupied space in the World Trade Center and was displaced by the events of Sept. 11. The company will locate its North American headquarters in the new Harborside space. ICAP plc is a public company listed on the London Stock Exchange (symbol IAP).

Mitchell E. Hersh, chief executive officer of Mack-Cali, commented, "Leading businesses continue to look to Harborside Financial Center as a headquarters location due to its high-quality state-of-the-art office space, attractive cost of occupancy, wealth of amenities and excellent transportation access."

Insignia/ESG represented Mack-Cali and Cushman & Wakefield represented Garban Intercapital in the transaction.