Mack-Cali Announces Lease Extension with Telecommunications Firm

EDISON, N.J., Jan. 5, 2011 /PRNewswire/ -- Mack-Cali Realty Corporation (NYSE: CLI) today announced that Verizon New Jersey has signed a 5-year lease extension at 600 Horizon Center Drive at Horizon Center Business Park in Hamilton Township, New Jersey. Verizon leases the entire 95,000-square-foot building and now will do so through 2017.

Verizon New Jersey, a unit of Verizon Communications, was represented in the lease transaction by Marc Rosenberg of Cushman & Wakefield.

Mitchell E. Hersh, president and chief executive officer of Mack-Cali, commented, "We developed this building for Verizon back in 2002, and we've continued to forge a long-term relationship with them. We believe that relationship, along with the fact that Horizon Center Business Park offers a strategic location, facilitated their decision to make a significant space commitment well in advance of their lease expiration."

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 277 properties, primarily office and office/flex buildings located in the Northeast, totaling approximately 32.2 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 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.

SOURCE Mack-Cali Realty Corporation