Mack-Cali Leases 100,000 Square Feet to New Jersey Turnpike Authority

09/30/2005 Category: Leasing and Development

-Authority Signs Long-Term Lease for Headquarters at Woodbridge Property-

Cranford, New Jersey—September 30, 2005—Mack-Cali Realty Corporation (NYSE: CLI) today announced that the New Jersey Turnpike Authority has leased approximately 100,000 square feet of office space at 581 Main Street in Woodbridge, New Jersey. The lease carries a term of 10 years and eight months.

The Turnpike Authority will house its headquarters at the building after consolidating offices of the New Jersey Turnpike and Garden State Parkway, which merged two years ago. 581 Main Street, a 200,000 square-foot class A office property that overlooks the New Jersey Turnpike, is 100% leased.

Mitchell E. Hersh, president and chief executive officer of Mack-Cali, commented, "We're very pleased to be able to accommodate the Authority's consolidation requirements, and look forward to serving its office space needs for years to come."

Both the Turnpike Authority and Mack-Cali were represented in-house.

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

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.