Mack-Cali Leases Over 154,000 Square Feet at Blue Hill Plaza in Pearl River

09/09/2003 Category: Leasing and Development

Cranford, New Jersey—September 9, 2003—Mack-Cali Realty Corporation (NYSE:CLI) today announced it has leased over 154,000 square feet at Blue Hill Plaza, a 1.1 million square-foot class A office complex in Pearl River, New York, leased and managed by the Company.

The transactions include:

  • Active Media Services, Inc., an online media-buying agent, leased a total of 110,037 square feet for its corporate headquarters. The leases included a 100,950 square-foot renewal and a 9,087 square-foot expansion. Mack-Cali's Carol McGuire, director of leasing, represented Blue Hill Plaza in the transactions.
  • DaimlerChrysler Services North America LLC, one of the world's leading automotive companies, signed a new lease for 27,500 square feet. The space will house two departments that service the company's dealerships. Drew Saunders of Equis Corporation represented the tenant and Mack-Cali's Ivan Abry, director of leasing, represented Blue Hill Plaza.
  • Iona College, a private, co-educational institution of learning, leased 11,176 square feet for a branch campus for its graduate programs. Carol McGuire represented Blue Hill Plaza.
  • VersaMed, Inc., a leading international developer and manufacturer of intelligent ventilation systems for patient care, leased 6,000 square feet for its U.S. marketing and sales operations. CBRE's David Opper and Edmund Solarsh represented the tenant and Carol McGuire represented Blue Hill Plaza.

    Michael A. Grossman, executive vice president of Mack-Cali, commented, "These transactions demonstrate both Mack-Cali's ability to service our very diverse tenant base and Rockland County's appeal to businesses."

    Blue Hill Plaza, which consists of two 550,000 square-foot buildings, is 91% leased. The complex is owned by a joint venture of Glorious Sun and Robert Martin Company.

    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 264 properties, primarily office and office/flex buildings located in the Northeast, totaling approximately 29 million square feet. The properties enable the Company to provide a full complement of real estate opportunities to its diverse base of approximately 2,100 tenants.

    Additional information on Mack-Cali Realty Corporation is available on the Company's website at

    Certain information discussed in this press release may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and the federal securities laws, including Section 21E of the Securities Exchange Act of 1934. The Company intends such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995 and Section 21E of the Securities Exchange Act of 1934. Such forward-looking statements relate to, without limitation, the Company's future economic performance, plans and objectives for future operations and projections of revenue and other financial items. Forward-looking statements can be identified by the use of words such as "may," "will," "should," "expect," "anticipate," "estimate," "continue" or comparable terminology. Although the Company believes that the expectations reflected in such forward-looking statements are based upon reasonable assumptions at the time made, it can give no assurance that its expectations will be achieved. Forward-looking statements are inherently subject to certain risks, trends and uncertainties, many of which the Company cannot predict with accuracy and some of which the Company might not even anticipate. Future events and actual results, financial and otherwise, may differ materially from the results discussed in the forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements. Among the risks, trends and uncertainties are changes in the general economic conditions, including those affecting industries in which the Company's principal tenants compete; any failure of the general economy to recover timely from the current economic downturn; the extent of any tenant bankruptcies; the Company's ability to lease or re-lease space at current or anticipated rents; changes in the supply of and demand for office, office/flex and industrial/warehouse properties; changes in interest rate levels; changes in operating costs; the Company's ability to obtain adequate insurance, including coverage for terrorist acts; 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. The Company assumes no obligation to update or supplement forward-looking statements that become untrue because of subsequent events.