JERSEY CITY, N.J., Oct. 24, 2017 /PRNewswire/ -- Mack-Cali
Realty Corporation (NYSE: CLI), owner, manager and developer of
premier office and multifamily properties, today announced it has
invested $50 million to significantly
upgrade its portfolio of office properties in certain
transit-oriented suburbs of New
Jersey.
To be completed over the course of the next year, the capital
improvement initiative involves a comprehensive renovation of
building exteriors, installation of state-of-the-art amenities, and
modernization of common areas in properties throughout Parsippany, Short
Hills, Metro Park, and Red
Bank.
Included in Mack-Cali's
improvement plans are:
- Redesigns of building lobbies and entryways, designed to create
bright, airy settings with locally-inspired design features
- Upgraded finishes, customized to complement each building's new
design and aesthetic
- New and updated onsite dining options, from "grab-and-go"
kiosks offering fresh lunch items to full-service food halls with
abundant seating
- Conference centers featuring high-end tables with built-in
connections and cutting-edge audio-visual systems
- New tenant fitness centers with state-of-the-art equipment,
training facilities, locker rooms, and vanity areas
- A variety of furnished lounge areas designed for a relaxed
experience
"While state-of-the-art facilities are a 'must' in today's
office market, our strategy of catering to the evolving needs of
the modern tenant is about much more than just improving the
physical infrastructure of a building," said Michael DeMarco, CEO of Mack-Cali. "It also means setting the stage with
next-level amenities. With this capital improvement program, we're
upgrading every touchpoint of the tenant experience – from what
they see when they first walk into the building's lobby, to where
and what they eat for lunch, and how they work out in the
afternoon."
Mack-Cali has retained a
world-class group of architects to execute the various renovations,
including HLW International, Studio 1200, Rotwein + Blake, and
Joshua Zinder.
The properties included in the capital improvement plan
include:
- Sylvan Way – Parsippany
- 8 and 9 Campus Drive – Parsippany
- 5 Wood Hollow – Parsippany
- River | Centre – Red Bank
- 333 and 334 Thornall – Edison
- 581 Main Street – Woodbridge
- 150 JFK Parkway – Short
Hills
- 3 Giralda Farms – Madison
The company's suburban capital improvement program comes on the
heels of the recent announcement of its $75-million effort to transform Harborside, an
assortment of class A mixed-use buildings on the Jersey City waterfront, into a vibrant, 24/7
cultural district.
"Throughout our entire portfolio, we're executing an aggressive
strategy to create truly great places to work and live for decades
to come," DeMarco said.
About Mack-Cali Realty Corporation
One of the
country's leading real estate investment trusts (REITs), Mack-Cali
Realty Corporation is an owner, manager and developer of premier
office and multifamily properties in select waterfront and
transit-oriented markets throughout the Northeast.
Mack-Cali is headquartered in
Jersey City, New Jersey, and is
the visionary behind the city's flourishing waterfront, where the
company is leading development, improvement and place-making
initiatives for Harborside, a master-planned destination comprised
of class A office, luxury apartments, diverse retail and
restaurants, and public spaces.
A fully-integrated and self-managed company, Mack-Cali has provided world-class management,
leasing, and development services throughout New Jersey and the surrounding region for two
decades. By regularly investing in its properties and innovative
lifestyle amenity packages, Mack-Cali creates environments that empower tenants
and residents to reimagine the way they work and live.
For more information on Mack-Cali Realty Corporation and its
properties, visit www.mack-cali.com.
MEDIA CONTACT:
Caroline Bligh
Beckerman
201-465-8045
cbligh@beckermanpr.com
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SOURCE Mack-Cali Realty Corporation