Mack-Cali Leases 74,487 Square Feet at Jersey City Office Building

10/15/2004 Category: Leasing and Development

-Transactions at Harborside Plaza 5 Include New Lease with Ameritrade-

Cranford, New Jersey—October 15, 2004—Mack-Cali Realty Corporation (NYSE: CLI) today announced it has signed four leases totaling 74,487 square feet at Harborside Financial Center Plaza 5 on the Jersey City waterfront.

The leases include:

  • Ameritrade Services Company, an online brokerage firm, signed a new 10-year lease for a full 36,452 square-foot floor. Frank Doyle of Jones Lang LaSalle represented the tenant.
  • Connell Foley LLP, a law firm, signed a new lease for 12,987 square feet for 10 years. Tom Stanton of The Staubach Company represented the tenant.
  • Garban Intercapital North America, Inc., a subsidiary of ICAP plc, expanded its space by 12,948 square feet for 13 years. Garban now leases a total of 148,025 square feet at Harborside Plaza 5 for its North American headquarters. John Picco of Cushman & Wakefield represented the tenant.
  • TradeWeb LLC, a subsidiary of Thomson Corporation (NYSE: TOC), expanded its space by 12,100 square feet for 13 years. TradeWeb now leases a total of 48,005 square feet for its U.S. headquarters at the building. Joseph Cabrera of Cushman & Wakefield represented the tenant.

Mack-Cali was represented in each transaction by Mark Ravesloot of CB Richard Ellis and Jane Greenblatt, in-house director of development.

Mitchell E. Hersh, president and chief executive officer of Mack-Cali, commented, "We're pleased to continue to see both new and existing tenants making long-term commitments to lease space at this prime waterfront property." He added, "Harborside's wealth of on-site amenities, excellent transportation access, and attractive financial incentives make it an excellent choice for a diversity of businesses." Harborside Financial Center Plaza 5, a 980,000 square-foot, class A office tower, is 73.4% leased.

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 267 properties, primarily office and office/flex buildings located in the Northeast, totaling approximately 29.2 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 Web site 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.