Three Mack-Cali Office Properties Win Industry Awards

06/13/2003 Category: Miscellaneous

Cranford, New Jersey--June 13, 2003--Mack-Cali Realty Corporation (NYSE: CLI) today announced that three of its New Jersey office properties recently received industry awards.

  • Harborside Financial Center Plaza 10, a 19-story 577,575 square-foot class A office tower in Jersey City, New Jersey, received a 2003 New Good Neighbor Award presented by the New Jersey Business & Industry Association and New Jersey Business magazine. The building was developed by Mack-Cali in 2002 and is 100% leased to Charles Schwab & Co. Jeffrey M. Brown Associates, Inc. was the general contractor and HLW International LLP was the architect of the project. Harborside Plaza 10 is jointly owned by Mack-Cali and Columbia Development.

    The New Good Neighbor Award is presented to businesses that have improved the business climate in New Jersey by building or renovating a commercial facility.

  • Mack-Cali Business Campus, a 12-building class A office complex in Parsippany, New Jersey, won a 2003 Office Building of the Year (TOBY) Award from the New Jersey chapter of the Building Owners and Managers Association (BOMA). The complex won in the low-rise suburban office park category.

    The TOBY award is based on excellence in office building management, with all facets of a building's operations evaluated including building maintenance, tenant relations programs, and community involvement.

  • International Financial Tower, a 19-story, 622,000 square-foot class A office property managed by Mack-Cali and located at 95 Christopher Columbus Drive in Jersey City, New Jersey, also won a 2003 TOBY award from the New Jersey chapter of BOMA. The building, which was developed by Mack-Cali in 1989 and sold to CommerzLeasing und Immobilien GmbH Duesseldorf and GOA Germania of America, Inc. in 2000, won in the 500,000 to 1 million square-foot office building category.

    Mitchell E. Hersh, chief executive officer of Mack-Cali, commented, "We are gratified to receive these awards, as they are excellent demonstrations of Mack-Cali's expertise as a developer, owner and manager of top-class office properties."

    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 263 properties, primarily office and office/flex buildings located in the Northeast, totaling approximately 28.9 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.