Mack-Cali Announces Leases at New York/Connecticut Properties

05/22/2007 Category: Leasing and Development

Edison, New Jersey—May 22, 2007—Mack-Cali Realty Corporation (NYSE: CLI) today announced four leases at its New York and Connecticut properties.

The leases are:

  • Acorda Therapeutics, Inc., a biotechnology company, leased 38,222 square feet at 15 Skyline Drive in Mid-Westchester Executive Park in Hawthorne, N.Y. The lease consists of an expansion of 8,162 square feet and an extension of 30,060 square feet. The 55,000 square-foot office/flex building is 88.2 percent leased. Scott Benson of Benson Commercial Realty and Ellen Benedek of NAI Friedland Realty, Inc. represented the tenant and Ivan Abry, in-house senior director of leasing, represented Mack-Cali.
  • Fuji Medical Systems USA, Inc., a medical imaging product and systems provider and a wholly owned subsidiary of Fuji Photo Film Co., Ltd., signed an expansion lease for 20,000 square feet at 650 West Avenue, a 100 percent-leased, 40,000 square-foot office/flex building in Stamford, Conn. The building is located at Stamford Executive Park, where Fuji Medical also occupies the entire 88,000 square-foot building for its headquarters at 419 West Avenue. Joseph Di Scala of Alliance Partners, Inc. represented the tenant and Jeffrey M. Warner, in-house vice president of leasing, represented Mack-Cali.
  • Montefiore Medical Center renewed its lease of 15,000 square feet at 100 Corporate Boulevard at the South Westchester Executive Park in Yonkers, N.Y. The 78,000 square-foot office/flex building is 98.3 percent leased. Carol McGuire, in-house senior director of leasing, represented Mack-Cali.
  • Whitman Breed Abbott & Morgan, LLC, a law firm, signed a new 16,482 square-foot lease at 500 West Putnam Avenue in Greenwich, Conn. The 121,250 square-foot class A office building is 96.3 percent leased. Steve Greenbush and Robert Martin of CBRE represented the tenant and Louis Amalfitano, in-house director of leasing, represented Mack-Cali.

Jeffrey M. Warner commented, "We are committed to serving our tenants' space needs on an ongoing basis, and leases such as these are testament to our success." During the first quarter, Mack-Cali leased 310,443 square feet at its New York and Connecticut properties. Company wide, Mack-Cali leased over one million square feet during the quarter, bringing its portfolio to 92.2 percent leased.

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 34.4 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

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.