Mack-Cali Announces Leases at Moorestown Complex Totaling Over 61,600 Square Feet

11/01/2007 Category: Leasing and Development

Edison, New Jersey—November 1, 2007—Mack-Cali Realty Corporation (NYSE: CLI) today announced the following leases at Moorestown West Corporate Center in Moorestown, New Jersey:

  • C&L Properties, LLC. and its affiliate, C&L Packaging, LLC., renewed leases totaling 32,810 square feet at 1245 North Church Street. C&L provides contract packing of promotional items for the pharmaceutical industry. Jon Sarkisian and Brian Saggiomo of CB Richard Ellis represented the tenant. 1245 North Church Street, a 52,810 square-foot office/flex building, is 90.5% leased.
  • Pioneer and Company, Inc., a manufacturer of optical instruments and lenses, has renewed its lease for 14,400 square feet at 97 Foster Road. The 43,200 square-foot office/flex building is 75.5% leased.
  • Merchant Services, Inc., a credit card processing company, leased 14,400 square feet at 102 Commerce Drive. The lease consists of an expansion of 4,800 square feet and a renewal of 9,600 square feet. The 38,400 square-foot office/flex building is 100% leased.

Tim O'Brien, in-house leasing director, represented Mack-Cali on each transaction.

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 302 properties, primarily office and office/flex buildings located in the Northeast, totaling approximately 34.9 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 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.