Mack-Cali Announces New Lease with Virgin Mobile

EDISON, N.J.--(BUSINESS WIRE)-- Mack-Cali Realty Corporation (NYSE: CLI) today announced that Virgin Mobile USA L.P. has signed a new five-year lease for 93,376 square feet at 10 Independence Boulevard, Somerset Hills Corporate Center, in Warren, N.J.

Virgin Mobile USA L.P., a leading provider of wireless calling services and equipment, is currently a tenant in the building through a sublease. The lease will now expire in March 2016.

Mitchell E. Hersh, president and chief executive officer of Mack-Cali, commented, "We're delighted that Virgin Mobile has chosen to extend its occupancy at this premier property."

10 Independence Boulevard, a 120,528-square-foot class A office building, is 100 percent leased. Marc A. Rosenberg of Cushman & Wakefield of NJ represented the tenant in the transaction.

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 294 properties, primarily office and office/flex buildings located in the Northeast, totaling approximately 33.8 million square feet. The properties enable the Company to provide a full complement of real estate opportunities to its diverse base of approximately 2,100 tenants.

Additional information on Mack-Cali Realty Corporation is available on the Company's Web site 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

Released May 18, 2009