Mack-Cali Announces Lease With Daiichi Sankyo for Entire Building

07/23/2007 Category: Leasing and Development

Pharmaceutical Firm Renews and Expands U.S. Headquarters in Parsippany, N.J.

Edison, New Jersey—July 23, 2007—Mack-Cali Realty Corporation (NYSE: CLI) today announced that Daiichi Sankyo, Inc. has leased an entire building for its U.S. corporate headquarters at 2 Hilton Court at Mack-Cali Business Campus in Parsippany, N.J. The firm leased 186,020 square feet, representing a 10-year renewal of 89,144 square feet and a 15-year expansion of 96,876 square feet.

Mitchell E. Hersh, Mack-Cali president and chief executive officer, commented, "This transaction is a clear demonstration of the continued appeal of Morris County as a corporate headquarters location. It's also consistent with Mack-Cali's strategy of signing long-term leases with top quality tenant companies." Daiichi Sankyo, Inc. is the U.S. subsidiary of Daiichi Sankyo Co., Ltd., Japan's second largest pharmaceutical company.

Jack Fatigati and Jim Garibaldi of The Garibaldi Group represented the tenant in the transaction. Mack-Cali was represented in-house by Diane Chayes, vice president of leasing.

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 300 properties, primarily office and office/flex buildings located in the Northeast, totaling approximately 34.7 million square feet. The properties enable the Company to provide a full complement of real estate opportunities to its diverse base of 2,200 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," "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 heading "Disclosure Regarding Forward-Looking Statements" and "Risk Factors" in the Company's Annual Reports on Form 10-K, as may be supplemented or amended by the Company's Quarterly Reports on Form 10-Q, which are incorporated herein by reference. The Company assumes no obligation to update or supplement forward-looking statements that become untrue because of subsequent events, new information or otherwise.