Mack-Cali Announces Lease Renewal for Over 47,000 Square Feet with Telcordia Technologies

03/29/2010 Category: Leasing and Development

Edison, New Jersey—March 29, 2010—Mack-Cali Realty Corporation (NYSE: CLI) today announced that Telcordia Technologies, Inc. has signed a three-year, three-month lease renewal for 47,857 square feet at One River Centre, 331 Newman Springs Road, Building II, in Red Bank, New Jersey.

Telcordia Technologies, a tenant at One River Centre since 2003, is a leader in the development of fixed, mobile, and broadband communications software and services.

One River Centre, a three-building class A office complex totaling 437,472 square feet, is 93.9 percent leased.

Steven Fleming of Jones Lang LaSalle represented the tenant, and Mack-Cali was represented in house by John O’Hearn and Erin Moran, both directors of leasing.

Mitchell E. Hersh, president and chief executive officer of Mack-Cali, commented, “This renewal reflects the continued success of Mack-Cali’s strategy to build successful, long-term tenant relationships by maintaining high standards for both our properties and our services.”

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 289 properties, primarily office and office/flex buildings located in the Northeast, totaling approximately 33.2 million square feet. The properties enable the Company to provide a full complement of real estate opportunities to its diverse base of approximately 2,100 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.