New Leases with Ameriquest Mortgage, Pitney Bowes and Thomson-Leeds Highlight Mack-Cali Fourth Quarter Leasing in Westchester and Connecticut

02/27/2002 Category: Leasing and Development

Cranford, New Jersey—February 27, 2002 —Mack-Cali Realty Corporation (NYSE: CLI) today announced it has leased approximately 151,000 square feet of space at its Westchester and Connecticut properties during the fourth quarter of 2001.

New leases signed include:

  • Ameriquest Mortgage Company, a mortgage lender, signed a new five-year lease for 25,300 square feet at 8 Skyline Drive in Hawthorne, New York. Located at Mid-Westchester Executive Park, 8 Skyline Drive, a 50,000 square-foot office/flex property, is 98.7% leased. Gerard Lees of Cushman & Wakefield of Connecticut and John Gillespie of Newport Commercial Realty Advisors represented Ameriquest in lease negotiations.

  • Thomson-Leeds Company, Inc., a retail communications firm, signed a new 10-year lease for 14,630 square feet at One Water Street in White Plains, New York, a 45,700 square-foot class A office building. William Cuddy and Glenn Isaacson of Insignia/ESG, Inc. represented the tenant.

  • Pitney Bowes Office Systems, Inc., a fax and copier division of Pitney Bowes, signed a new lease for 11,439 square feet at 1000 Bridgeport Avenue in Shelton, Connecticut. The 133,000 square-foot class A office building is 100% leased.

    Mitchell E. Hersh, chief executive officer of Mack-Cali, commented, "Despite an uncertain economy, we continue to see healthy demand from leading corporations interested in leasing Mack-Cali's prime suburban 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 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.