Mack-Cali Honors Suburban Philadelphia Brokers

02/22/2002 Category: Miscellaneous

Cranford, New Jersey —February 22, 2002— Mack-Cali Realty Corporation (NYSE: CLI) recently presented its 2001 broker awards for the suburban Philadelphia region at a reception held at the Company's Westlakes Office Park in Berwyn, Pennsylvania.

Mitchell E. Hersh, chief executive officer of Mack-Cali, commented, "We're pleased to honor the outstanding efforts by these individuals, and thank them for their valuable contribution to our success in the suburban Philadelphia market. We look forward to partnering with these honorees and the entire brokerage community for even greater achievement in 2002."

Honorees included:

  • Jeffrey E. Mack of Smith Mack & Company, Broker of the Year.
  • Tom Sklow of Trammell Crow Company, Impact Deal of the Year for a lease with Zarix, Inc. at Westlakes Office Park.
  • James R. Dugan of The Rubenstein Brokerage Group, Largest New Deal of the Year Award for the Fluor Enterprises lease at Rose Tree Corporate Center in Media.

    Other award winners included John P. Morrissey of Morrissey Partners, Eugene A. Mastrangelo of Tornetta Realty Corp., and The Staubach Company.

    Mack-Cali owns 13 office properties totaling approximately 1.5 million square feet in suburban Philadelphia, as well as 32 office and office/flex properties totaling 1.5 million square feet in South Jersey.

    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 266 properties, primarily office and office/flex buildings located in the Northeast, totaling approximately 28.4 million square feet. The properties enable the Company to provide a full complement of real estate opportunities to its diverse base of approximately 2,300 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.