Despite a challenging environment, our portfolio continues to outperform virtually every market in which we operate. With our leased rates exceeding market averages in Northern and Central New Jersey, Westchester, Washington D.C. and of course, doing extremely well along the waterfront.While we did anticipate a particularly challenging fourth quarter with known expirations and move outs, we saw a solid leasing activity and in fact, as stated before, we’re able to slightly increase our occupancy rate. As far as activities for the quarter are concerned, we previously announced during the quarter that we entered into a joint venture with Ironstate development company to develop luxury multi-family rental towers on the Jersey City Waterfront, north of Plaza 5 and Harborside.
Mack-Cali Realty's CEO Discusses Q4 2011 Results - Earnings Call Transcript
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