Mack-Cali Leases Over 240,000 Square Feet in Westchester and Connecticut Portfolio in Third Quarter

11/26/2001 Category: Leasing and Development

Cranford, New Jersey-November 26, 2001--Mack-Cali Realty Corporation (NYSE: CLI) today announced it has leased over 240,000 square feet of space at its Westchester and Connecticut properties during the third quarter of 2001.

Highlights of these transactions include:

  • CSC Holdings, Inc., the parent company of Cablevision Systems, a global telecommunications and entertainment company, signed a five-year lease renewal for 28,755 square feet at 6 Executive Plaza in Yonkers, New York. Located in Mack-Cali's 679,000 square-foot South Westchester Executive Park, 6 Executive Plaza is an 80,000 square-foot office/flex property that is 100% leased.
  • Board of Cooperative Educational Services, a provider of educational services, renewed its lease of 20,131 square feet at 2 Westchester Plaza in Elmsford, New York. 2 Westchester Plaza, a 25,000 square-foot office/flex building, is 100% leased.
  • Winklevoss Consultants, Inc., a provider of financial engineering solutions, renewed its lease of 14,160 square feet for five years at 500 West Putnam Avenue in Greenwich, Connecticut. 500 West Putnam Avenue is a 121,250 square-foot office property that is 96% leased.

Mitchell E. Hersh, chief executive officer of Mack-Cali, commented, "We're pleased to continue to accommodate the space needs of these leading businesses." He continued, "And in today's challenging economy, Mack-Cali's financial strength and stability are increasingly important factors in companies' decisions in choosing their office space."

Mack-Cali Realty Corporation owns approximately 4.7 million square feet square feet of properties in Westchester County and over 672,000 square feet of properties in Fairfield County, Connecticut.

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 268 properties, primarily office and office/flex buildings located in the Northeast, totaling approximately 28.5 million square feet. The properties enable the Company to provide a full complement of real estate opportunities to its diverse base of approximately 2,400 tenants.

Additional information on Mack-Cali Realty Corporation is available on the Company's website at www.mack-cali.com.

Certain information discussed in this press release may constitute forward-looking statements within the meaning of the Federal Securities law. Although the Company believes that the expectations reflected in such forward-looking statements are based upon reasonable assumptions, it can give no assurance that its expectations will be achieved. Forward-looking information is subject to certain risks, trends and uncertainties that could cause actual results to differ materially from those projected. Among those risks, trends and uncertainties are the general economic climate; the supply of and demand for office, office/flex and industrial/warehouse properties; interest rate levels; the availability of financing; and other risks associated with the development and acquisition of properties, including risks that the development may not be completed on schedule, that the tenants will not take occupancy or pay rent, or that development or operating costs may be greater than anticipated. For further information on factors which could impact the Company and the statements contained herein, reference should be made to the Company's filings with the Securities and Exchange Commission including quarterly reports on Form 10-Q, current reports on Form 8-K, and annual reports on Form 10-K.