Mack-Cali Receives BOMA Award for New Jersey Property
06/18/2007 Category: Miscellaneous
5 Wood Hollow Road in Parsippany Awarded for Excellence in Building Management
Edison, New Jersey—June 18, 2007—Highlighting its continuing commitment to excellence in property operations, Mack-Cali Realty Corporation (NYSE: CLI) has received from the New Jersey Chapter of the Building Owners and Managers Association ("BOMA") The Office Building of the Year ("TOBY") award for 5 Wood Hollow Road in Parsippany, New Jersey.
The TOBY award, which was received in the category of office buildings from 250,000 to 499,999 square feet, was presented at the BOMA New Jersey Chapter's Annual Night at the Races Awards Dinner on June 13 at Pegasus West in East Rutherford.
The TOBY award is based on excellence in office building management, with all facets of a property's operations evaluated including building maintenance, tenant relations programs, emergency preparedness and security standards, and community involvement.
Florence Schmitt, property manager, who accepted the award on behalf of Mack-Cali, commented, "This TOBY award illustrates Mack-Cali's commitment to property management excellence as well as our success at repositioning this property to award-winning standards."
Mack-Cali acquired 5 Wood Hollow Road in 2004 and completed significant capital improvements to the property in 2005 including exterior and interior renovations. The three-story, 317,040 square-foot class A office property is currently 96.7 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 currently owns or has interests in 302 properties, primarily office and office/flex buildings located in the Northeast, totaling approximately 34.8 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.