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

02/28/2006 Category: Leasing and Development

Cranford, New Jersey—February 28, 2006—Mack-Cali Realty Corporation (NYSE: CLI) today announced it has completed 231,941 square feet of leasing transactions at its New York and Connecticut properties during the fourth quarter. Company-wide, Mack- Cali leased over 1.1 million square feet of space during the quarter, and over 5.6 million square feet during the year.

Highlights of the fourth quarter include the following transactions in Westchester County, New York:

  • Sportive Ventures 2, LLC, a sports club and fitness center, renewed its 20,516 square -foot lease at 1 Odell Plaza in Yonkers. The 106,000 square-foot office/flex property, located at South Westchester Executive Park, is 99.9 percent leased. Jeffrey Warner, in-house vice president of leasing, represented Mack-Cali.
  • Optical Distributor Group, LLC, a contact lens distributor, expanded its lease by 18,615 square feet at 4 Skyline Drive at Mid- Westchester Executive Park in Hawthorne. The tenant now occupies 40,615 square feet at the 80,600 square-foot office/flex building, which is 92.2 percent leased. Noel Flagg of Newmark Knight Frank represented the tenant and Jeffrey Warner represented Mack-Cali.
  • Singer Holding Corporation, a supplier of home heating oil and heating/air conditioning contracting services, renewed its lease of 15,000 square feet at 500 Executive Boulevard in Elmsford. Located at Cross Westchester Executive Park, 500 Executive Boulevard is a 41,600 square-foot office/flex building that is 100 percent leased. Ivan Abry, in-house director of leasing, represented Mack-Cali.
  • E2V Technologies, Inc., a supplier of radio frequency and microwave technologies, renewed its lease of 15,000 square feet at 4 Westchester Plaza in Cross Westchester Executive Park in Elmsford. 4 Westchester Plaza is a 44,700 square-foot office/flex building that is 99.8 percent leased. Ivan Abry represented Mack-Cali.
  • Coca-Cola Enterprises, Inc., a marketer, producer and distributor of Coca-Cola Company products, expanded its space at 555 Taxter Road in Elmsford by 12,520 square feet. The tenant now occupies 56,786 square feet at the 170,554 square-foot, class A office building, which is 100 percent leased. William Cuddy of CB Richard Ellis represented the tenant and Carol McGuire, in-house senior 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 270 properties, primarily office and office/flex buildings located in the Northeast, totaling approximately 30 million square feet. The properties enable the Company to provide a full complement of real estate opportunities to its diverse base of approximately 2,200 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," "plan," "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.