Mack-Cali Announces Lease Extensions Totaling Over 124,000 Square Feet With Three Interpublic Group Subsidiaries

Jan 05, 2010, 10:25 ET from Mack-Cali Realty Corporation

EDISON, N.J., Jan. 5 /PRNewswire-FirstCall/ -- Mack-Cali Realty Corporation (NYSE: CLI) today announced that three Interpublic Group subsidiary companies have signed lease renewals at Mack-Cali's properties in Parsippany, New Jersey. The leases with Integrated Communications Corp., Pace LLC, and Torre Lazur Healthcare Group, Inc. - now totaling 124,679 square feet - all have been extended until 2022.

The transactions consist of the following:

  • Integrated Communications signed a 43,101-square-foot lease renewal at 5 Sylvan Way in Mack-Cali Business Campus.
  • Pace LLC signed a lease renewal for 19,633 square feet at 35 Waterview Boulevard in Waterview Corporate Center.
  • Torre Lazur Healthcare Group, Inc. signed a lease renewal for 61,945 square feet at 20 Waterview Boulevard, also in Waterview Corporate Center.

These Interpublic Group companies were represented by Scott Panzer and Robert Romano of Jones Lang LaSalle, and Mack-Cali was represented in-house by Diane Chayes, vice president of leasing.

Mitchell E. Hersh, president and chief executive officer of Mack-Cali, commented, "The Interpublic Group is one of the world's leading marketing and communications organizations, and we're delighted that several of its companies have chosen to renew within our portfolio. These transactions demonstrate Mack-Cali's ability to build long-term relationships with strong, global tenants."

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.

    Contacts:    Ilene Jablonski                    Rick Matthews
                 Senior Director, Marketing and     Executive Vice President
                  Public Relations                  Rubenstein Associates
                 (732) 590-1000                     (212) 843-8267

SOURCE Mack-Cali Realty Corporation