Mack-Cali reports NJ leasing for 2Q

Real Estate Weekly, Sept 4, 2002

Mack-Cali Realty Corporation announced it has completed 505,250 SF of leasing transactions at its Northern and Central New Jersey office properties during the second quarter of 2002.

Highlights include:

* Cendant Operations, Inc. a subsidiary of Cendant Corporation, a provider of travel and residential real estate services, signed a six-year, 145,983-SF lease at 7 Sylvan Way in the Mack-Cali Business Campus in Parsippany, N.J. Cendant now leases 100% of the class A office building through 2011. Patrick Eichner, in-house leasing director, represented Mack-Cali in the transaction.

* GAB Robins North America, Inc., a national insurance industry service provider, has renewed 75,049 SF for five years at 9 Campus Drive in the Mack-Cali Business Campus. The 156,495-SF class A office property is 96.7% leased. Patrick Eichner represented Mack-Cali.

* Meridian Health System, owner and operator of health care facilities, has leased a total of 42,616 SF for 10 years at 1350 Campus Parkway at Monmouth Shores Corporate Park in Wall Township, N.J. The transaction represents a renewal of 17,766 SF and expansion of 24,850 SF. The 79,747-SF class A office building is 100% leased. Harvey Schultz of The Schultz Organization represented the tenant and Diane Chayes, in-house senior director of leasing, represented Mack-Cali.

* Washington Mutual Bank, a subsidiary of Washington Mutual, Inc., a national financial services company, signed a new lease for 27,349 SF for five years at 100 Walnut Ave. in Clark, N.J. The 182,555-SF office building is 100% leased. Philip Heilpern of Insignia/ESG, Inc. represented the tenant and Toni Casiano, in-house leasing director, represented Mack-Cali.