Mack-Cali Announces Third Quarter Leasing Results for New York and Connecticut Properties

11/10/2005 Category: Leasing and Development

Cranford, New Jersey--November 10, 2005--Mack-Cali Realty Corporation (NYSE: CLI) today announced it has completed 469,897 square feet of leasing transactions at its New York and Connecticut properties during the third quarter. Company-wide, Mack-Cali leased over 1.6 million square feet of space during the quarter.

In addition to the 292,304 square feet of lease renewals with IBM at Mid-Westchester Executive Park in Hawthorne, New York, previously announced by the Company, highlights of the third quarter transactions include:

  • Thacher Proffitt & Wood, LLP, a law firm, signed a renewal and expansion lease for 22,500 square feet at 50 Main Street in White Plains, New York. Located at Westchester Financial Center, the 309,000 square-foot class A building is 99 percent leased. Leo Paytas of Trammell Crow Company represented the tenant and Jeffrey Warner, in-house vice president of leasing, represented Mack-Cali.
  • Sportive Ventures 1 LLC, a health club and fitness center, renewed its lease for 17,863 square feet at 150 Clearbrook Road in Elmsford, New York. The 74,900 square-foot office/flex property, located at Cross Westchester Executive Park, is 84.9 percent leased. Jeffrey Warner represented Mack-Cali.
  • AXA Equitable Life Insurance Company, a subsidiary of AXA Financial, signed a new lease for 10,508 square feet at Soundview Plaza in Stamford, Connecticut. The 179,260 square-foot class A office building, located at 1266 Main Street, is 73.0 percent leased. Gregory Frisoli and Nicole Shuman of Cushman & Wakefield of Connecticut, Inc. represented the tenant and Lou Amalfitano, in-house director of leasing, represented Mack-Cali.
  • Sempra Energy Trading Corporation, a subsidiary of Sempra Energy, renewed its lease for 10,300 square feet at 100 Corporate Boulevard at South Westchester Executive Park in Yonkers, New York. The 78,000 square-foot office/flex building is 98.2 percent leased. Carol McGuire, in-house senior director of leasing, represented Mack-Cali.
  • Starwood Hotel & Resorts Worldwide, Inc., a global hotel and leisure company, signed a new lease for 10,275 square feet at 5 Skyline Drive in Hawthorne, New York. The 124,022 square-foot office/flex property, located at Mid-Westchester Executive Park, is 100 percent leased. Paul Enea of Friedland Realty, Inc. represented the tenant and Ivan Abry, in-house director of leasing, represented Mack-Cali.

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 currently owns or has interests in 271 properties, primarily office and office/flex buildings located in the Northeast, totaling approximately 30.2 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 website at www.mack-cali.com.

Statements made in this press release may be forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements can be identified by the use of words such as "may," "will," "should," "expect," "anticipate," "estimate," "continue," or comparable terminology. Such 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, and involve factors that may cause actual results to differ materially from those projected or suggested. Readers are cautioned not to place undue reliance on these forward-looking statements and are advised to consider the factors listed above together with the additional factors under the headings "Disclosure Regarding Forward-Looking Statements" and "Risk Factors" in the Company's 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, new information or otherwise.