Deutsche Bank Expands by 88,000 SF
By Eric Peterson
Globest.com

Harborside Plaza

JERSEY CITY-According to officials of Mack-Cali Realty Corp., ?a major international bank? has taken an additional 87,965 sf of office space at the REIT?s Harborside Financial Center Plaza 2. Company officials did not identify the tenant, and a spokesman declined comment, citing a confidentiality agreement with the tenant, but sources confirm that the tenant is Deutsche Bank. The latter is in fact currently listed as a major tenant at the Harborside complex.

According to information released by the Edison-based Mack-Cali, the lease involves 80,867 sf for a 10-year term and another 7,098 sf for a six-year term, both expiring in 2017. David Maurer-Hollaender led a team of New Jersey and New York brokers from CB Richard Ellis to represent the tenant, while Mack-Cali was represented in-house. Further terms were not released.

With the signing, the bank now leases a total of 391,258 sf at two buildings in Harborside Financial Center, a mixed-use complex with five class A office buildings totaling 3.1 million sf. Harborside Financial Center Plaza 2 accounts for more than 761,000 sf of that total, and altogether, the office buildings are now 98.8% leased. Asking rent for the availability is listed on Mack-Cali?s website as ?negotiable.?

The deal also represents the third time in a year that Deutsche Bank has taken more space at Mack-Cali?s Harborside Financial Center. As reported by GlobeSt.com, the banking giant took an additional 53,727 sf at the adjacent Harborside Financial Center Plaza 1 this past September. That expansion followed the leasing, earlier in 2006, of more than 228,000 sf in the same building, a deal encompassing a 90,000-sf renewal and an expansion of 138,000 sf.

deutschebank

Anyone know which bank? Deutsche, Morgan Stanley?

Mack-Cali Announces Lease at Jersey City Office Complex

International Bank Expands by Almost 88,000 Square Feet at Harborside Financial Center

EDISON, N.J.--(BUSINESS WIRE)--Mack-Cali Realty Corporation (NYSE: CLI) today announced that a major international bank has leased 87,965 square feet of space at Harborside Financial Center Plaza 2 on the Jersey City waterfront. The firm leased 80,867 square feet for a 10-year term and 7,098 square feet for a six-year term, both expiring in 2017.

The bank now leases a total of 391,258 square feet at two buildings in Harborside Financial Center, a mixed-use complex with five class A office buildings totaling 3.1 million square feet. The office buildings are 98.8 percent leased.

Mitchell E. Hersh, Mack-Cali president and chief executive officer, commented, ?We?re delighted that this global firm has expanded its presence at Harborside. This lease transaction demonstrates Mack-Cali?s ability to effectively service its tenants and build long-term relationships with leading businesses.?

David Maurer-Hollaender led the team of New Jersey and New York brokers from CB Richard Ellis that represented the tenant in the transaction.

Mack-Cali Realty Corporation is a fully-integrated, self-administered, self-managed real estate investment trust (REIT) providing management, leasing, development, construction and other tenant-related services for its class A real estate portfolio. Mack-Cali owns or has interests in 300 properties, primarily office and office/flex buildings located in the Northeast, totaling approximately 34.7 million square feet. The properties enable the Company to provide a full complement of real estate opportunities to its diverse base of approximately 2,200 tenants.

Additional information on Mack-Cali Realty Corporation is available on the Company?s Web site at www.mack-cali.com.

Statements made in this press release may be forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements can be identified by the use of words such as ?may,? ?will,? ?plan,? ?should,? ?expect,? ?anticipate,? ?estimate,? ?continue,? or comparable terminology. Such forward-looking statements are inherently subject to certain risks, trends and uncertainties, many of which the Company cannot predict with accuracy and some of which the Company might not even anticipate, and involve factors that may cause actual results to differ materially from those projected or suggested. Readers are cautioned not to place undue reliance on these forward-looking statements and are advised to consider the factors listed above together with the additional factors under the heading ?Disclosure Regarding Forward-Looking Statements? and ?Risk Factors? in the Company?s Annual Reports on Form 10-K, as may be supplemented or amended by the Company's Quarterly Reports on Form 10-Q, which are incorporated herein by reference. The Company assumes no obligation to update or supplement forward-looking statements that become untrue because of subsequent events, new information or otherwise.