Mack-Cali Expects Increase in Suburban Leasing Activity

"The number of prospects inspecting Mack-Cali properties (in New York and Connecticut) have doubled as compared to the first quarter of 2003, which should result in a pick-up in leasing activity later in the year," says Michael Grossman, executive vice president of leasing and acquisitions for Mack-Cali.

The largest deal signed by Mack-Cali at its New York-Connecticut properties was a 47,735-sf lease renewal by AFP Imaging Corp. at 250 Clearbrook Rd. at Mack-Cali's Cross Westchester Executive Park here. AFP Imaging Corp. is a provider of medical, veterinary and dental imaging equipment. The 155,000-sf office/flex building is currently approximately 95% leased, Mack-Cali officials say.

Other deals of note in the first quarter included a 9,663-sf lease with the Westchester Benefit Group, an employee benefits consulting firm, at 555 Taxter Rd. also in Elmsford. The lease was a 3,660-sf expansion for the firm. The property located at Mack-Cali's Taxter Corporate Park, totals 170,554-sf and is currently nearly 66% leased. Louis Amalfitano, in-house leasing director, represented Mack-Cali in the transaction.

Mack-Cali also noted that Wallwork Brothers, Inc., a heating and air conditioning products company, signed a new lease for 9,270 sf at 175 Clearbrook Rd. here during the first quarter. The 98,900-sf office/flex building, at the firm's Cross Westchester Executive Park, is 100% leased. Scott Benson of Benson Commercial Realty Inc., represented the tenant while Ivan Abry, in-house leasing director, represented Mack-Cali.

In yet another deal at its Elmsford properties, Elof Hansson Inc., a worldwide trader of forestry, industrial and consumer products, renewed its 7,955-sf lease at 565 Taxter Rd. The 170,554-sf office building at Taxter Corporate Park is approximately 83% leased. William Cuddy of CB Richard Ellis represented the tenant and Robert Montaquiza, in-house leasing associate, represented Mack-Cali in that transaction.