Contact:

Barry Lefkowitz  Executive Vice President    and Chief Financial Officer   (732) 590-1000

Ilene Jablonski  Senior Director, Marketing  and Public Relations (732) 590-1000

 

-	Reported funds from operations, excluding a non-cash item, of $0.69 per diluted share;

-	Reported net income, excluding a non-cash item, of $0.19 per diluted share;

-	Reported funds from operations of $0.59 per diluted share and net income of $0.09 per diluted share, including a non-cash item of $0.10 per share; and

-	Declared $0.45 per share quarterly cash common stock dividend.

 

 

 

 

 

 

 

 

NORTHERN NEW JERSEY:

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Sumitomo Mitsui Banking Corporation, a global financial services provider, signed transactions totaling 71,153 square feet, consisting of five-year renewals for 40,470 square feet at Harborside Financial Center Plaza I and 30,683 square feet at Harborside Plaza 2 in Jersey City.  Harborside Plaza I is a 400,000 square-foot office building and Harborside Plaza 2 is a 761,200 square-foot office building.  Both are 100 percent leased.

-	Brach Eichler L.L.C., a law firm, signed a 13-year renewal for 41,242 square feet at 101 Eisenhower Parkway in Roseland.  The 237,000 square-foot office building, located in Eisenhower/280 Corporate Center, is 91.4 percent leased.

-	ProSight Specialty Insurance signed a ten-year, ten-month new lease for 40,310 square feet at 412 Mt. Kemble Avenue in Morris Township.  This 475,100 square-foot office building is 58.6 percent leased.

-	Coyne Public Relations, LLC signed a ten-year, three-month new lease for 36,248 square feet at 5 Wood Hollow Road in Parsippany.  The 317,040 square-foot office building is 84.5 percent leased.

-	Continental Casualty Company, an insurance provider, signed a five-year, six-month renewal for 19,416 square feet at 4 Century Drive, located in Mack-Cali Business Campus in Parsippany.  The 100,036 square-foot office building is 72.3 percent leased.

-	Telecommunications service provider Verizon New Jersey Inc. signed a five-year renewal for the entire 95,000 square-foot office building at 600 Horizon Drive, located in Horizon Center Business Park in Hamilton Township.

-	Novo Nordisk Inc., a diabetes focused healthcare company, signed a three-year, nine-month new lease for 48,478 square feet at 500 College Road East in Plainsboro.

-	Also at 500 College Road East, accounting firm Deloitte LLP signed a new ten-year lease for 46,803 square feet.  The 158,235 square-foot office building is 71.9 percent leased.

-	Regus Business Centre LLC, provider of executive suites, signed a five-year, four-month renewal for 38,930 square feet at 100 Overlook Center in Princeton.  The 149,600 square-foot office building is 90.9 percent leased.

-	Maser Consulting P.A., consulting engineers, signed a seven-year renewal for 29,046 square feet at One River Centre, Building Two, in Middletown.  The 120,360 square-foot office building is 82.8 percent leased.

-	Supermedia Sales-East Co., publishers of print and electronic directory information, signed a three-year renewal of 15,396 square feet at 30 Knightsbridge Road, Building 5, in Piscataway.  The 332,607 square-foot office building is 80.8 percent leased.

-	Team Westchester LLC, a baseball training school, signed a new ten-year, seven-month lease for 22,197 square feet at 300 Executive Boulevard in Elmsford.  The 60,000 square-foot office/flex building, located in Cross Westchester Executive Park, is 100 percent leased.

-	Also at Cross Westchester Executive Park, Singer Holding Corporation, a fuel oil dealer, signed a one-year renewal for 15,000 square feet at 500 Executive Boulevard in Elmsford.  The 41,600 square-foot office/flex building is 100 percent leased.

MANHATTAN, NEW YORK:

-	TMP Worldwide Advertising and Communications LLC, signed a new ten-year, six-month lease for 37,404 square feet at 125 Broad Street.  Mack-Cali’s ownership interests of 524,476 square-feet in the building are 58.6 percent leased.

SUBURBAN PHILADELPHIA:

-	Unitrin Direct Insurance Company signed a five-year, two-month renewal for 35,829 square feet at 1150 Plymouth Meeting Mall in Plymouth Meeting.  The 167,748 square-foot office building is 69.1 percent leased.

-	Weiler Labeling Systems LLC, provider of advanced labeling solutions, signed a six-year, two month renewal for 31,825 square feet at 1256 North Church Street in Moorestown West Corporate Center in Moorestown.  The 63,495 square-foot office/flex building is 100 percent leased.

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Also at Moorestown West Corporate Center, C&L Properties, LLC. and its affiliate, C&L Packaging, LLC., renewed leases totaling 32,810 square feet at 1245 North Church Street. C&L provides contract packing of promotional items for the pharmaceutical industry. 1245 North Church Street is a 52,810 square-foot office/flex building and is 100 percent leased.

	Full Year
	2011 Range
Net income available to common shareholders	$0.65 - $0.85
Add: Real estate-related depreciation and amortization	2.10
Funds from operations available to common shareholders	$2.75 - $2.95

 

 

 

 

	Mack-Cali Realty Corporation
	Consolidated Statements of Operations
	(in thousands, except per share amounts) (unaudited)

	Mack-Cali Realty Corporation
	Statements of Funds from Operations
	(in thousands, except per share/unit amounts) (unaudited)

	Mack-Cali Realty Corporation
	Statements of Funds from Operations Per Diluted Share and Funds from Operations Excluding Certain Non-Cash Items Per Diluted Share
	(amounts are per diluted share, except share count in thousands) (unaudited)

	Mack-Cali Realty Corporation
	Consolidated Balance Sheets
	(in thousands, except share amounts) (unaudited)
		December 31,
		2010	2009
	Assets:
	Rental property
	Land and leasehold interests	$ 771,960	$ 771,794
	Buildings and improvements	3,970,177	3,948,509
	Tenant improvements	470,098	456,547
	Furniture, fixtures and equipment	4,485	9,358
		5,216,720	5,186,208
	Less-accumulated deprec. & amort.	(1,278,985)	(1,153,223)
	Net investment in rental property	3,937,735	4,032,985
	Cash and cash equivalents	21,851	291,059
	Investments in unconsolidated joint ventures	34,220	35,680
	Unbilled rents receivable, net	126,917	119,469
	Deferred charges and other assets, net	212,038	213,674
	Restricted cash	17,310	20,681
	Accounts receivable, net	12,395	8,089
	Total assets	$4,362,466	$4,721,637
	Liabilities and Equity:
	Senior unsecured notes	$1,118,451	$1,582,434
	Revolving credit facility	228,000	--
	Mortgages, loans payable and other obligations	743,043	755,003
	Dividends and distributions payable	42,176	42,109
	Accounts payable, accrued expenses and other liabilities	101,944	106,878
	Rents received in advance and security deposits	57,877	54,693
	Accrued interest payable	27,038	37,330
	Total liabilities	2,318,529	2,578,447
	Commitments and contingencies
	Equity:
	Mack-Cali Realty Corporation stockholders’ equity:
	Preferred stock, $0.01 par value, 5,000,000 shares authorized, 10,000
	and 10,000 shares outstanding, at liquidation preference	25,000	25,000
	Common stock, $0.01 par value, 190,000,000 shares authorized,
	79,605,474 and 78,969,752 shares outstanding	796	789
	Additional paid-in capital	2,292,641	2,275,716
	Dividends in excess of net earnings	(560,165)	(470,047)
	Total Mack-Cali Realty Corporation stockholders’ equity	1,758,272	1,831,458
	Noncontrolling interests in subsidiaries:
	Operating Partnership	283,219	308,703
	Consolidated joint ventures	2,446	3,029
	Total noncontrolling interests in subsidiaries	285,665	311,732
	Total equity	2,043,937	2,143,190
	Total liabilities and equity	$4,362,466	$4,721,637