Exhibit 99.2

MACK-CALI REALTY CORPORATION

NEWS RELEASE

For Immediate Release

Mack-Cali Realty Corporation

Reports Second Quarter 2020 Results

Jersey City, New Jersey – August 3, 2020 – Mack-Cali Realty Corporation (NYSE: CLI) today reported its results for the second quarter 2020.

SECOND QUARTER 2020 HIGHLIGHTS

MaryAnne Gilmartin, Mack-Cali Board Chair and Interim Chief Executive Officer stated, “As the Board embarks upon its search for a permanent CEO, my focus will be to continue operating the Company at the highest level. We remain committed to ensuring that our tenants, our communities, and our team remain healthy as we work to overcome the challenges associated with the COVID-19 pandemic.  Certainly our business and our results have been affected.  In my time as a member of the Board, I have come to appreciate that we have a very talented and engaged team that is highly committed to ensuring the ongoing success of the Company. We have great assets, strong operations, and a solid financial core. In the coming quarters, my focus will be to empower the organization to provide excellent service to our tenants, dispose of non-core assets, collect rents, retain tenants and lease up our New Jersey waterfront properties in order to build long-term value for our shareholders.”

FINANCIAL HIGHLIGHTS

* All per share amounts presented below are on a diluted basis.

Net income (loss) available to common shareholders for the quarter ended June 30, 2020 amounted to $(34.9) million, or $(0.41) per share, as compared to $(22.1) million, or $(0.43) per share, for the quarter ended June 30, 2019. For the six months ended June 30, 2020, net income (loss) available to common shareholders equaled $(74.8) million, or $(0.88) per share, as compared to $222.4 million, or $2.24 per share, for the same period last year.

Funds from operations (FFO) for the quarter ended June 30, 2020 amounted to $5.0 million, or $0.05 per share, as compared to $32.9 million, or $0.33 per share, for the quarter ended June 30, 2019. For the six months ended June 30, 2020, FFO equaled $34.7 million, or $0.35 per share, as compared to $72.5 million, or $0.72 per share, for the same period last year

For the second quarter 2020, Core FFO was $28.0 million, or $0.28 per share, as compared to $40.0 million, or $0.40 per share for the same period last year. For the six months ended June 30, 2020, Core FFO equaled $61.3 million, or $0.61 per share, as compared to $80.9 million, or $0.80 per share, for the same period last year.

OPERATING HIGHLIGHTS

Office

The Company's consolidated Core office properties (including Discontinued Operations) were 80.3 percent leased at June 30, 2020, as compared to 81.1 percent leased at March 31, 2020 and 79.8 percent leased at June 30, 2019.

Second quarter 2020 same-store GAAP revenues for the office portfolio decreased by 5.3 percent while same-store GAAP NOI decreased by 3.6 percent from the same period in 2019. Second quarter 2020 same store cash revenues for the office portfolio increased by 4.3 percent while same store cash NOI grew by 13.4 percent from 2019. Same store cash revenues and same store cash NOI exclude straight-line rent and FAS 141 adjustments.

For the quarter ended June 30, 2020, the Company executed eight leases at its Core office portfolio, totaling 155,054 square feet. Of these totals, one lease for 10,512 square feet (6.8 percent) was a new lease and seven leases for 144,542 square feet (93.2 percent) were lease renewals and other tenant retention transactions.

Rental rate roll-up for the Core portfolio for second quarter 2020 transactions was 3.4 percent on a cash basis and 12.9 percent on a GAAP basis.

Multifamily

Roseland's stabilized operating portfolio was 92.6 percent leased at June 30, 2020, as compared to 95.7 percent at March 31, 2020 predominantly based on a dramatic decrease in new lease traffic. Excluding the corporate write-off, same-store revenues decreased by 1.9 percent resulting in same-store net operating income decrease of 5.0 percent for the second quarter 2020 as compared to second quarter 2019. For the six months ended June 30, 2020, same-store revenues increased 1.7 and NOI increased 2.1 percent over the same period in 2019.

At quarter end, Roseland had 1,942 units under construction across five projects (inclusive of the Emery). This aggregate $1 billion construction portfolio has a projected stabilized yield of approximately 6.15 percent.

Hotels and Parking

The Company’s Residence Inn at Port Imperial remained open through the second quarter 2020 experiencing average occupancy of 70 percent. The Company’s remaining two hotels, the Envue, which is wholly owned, and the Hyatt, which is owned through a 50/50 joint venture with Hyatt, were closed in the second quarter 2020.

The Company recorded $21.9 million of parking revenues in 2019. Typically, approximately 40 percent of the Company’s parking revenue comes from transient office workers and visitors to the neighborhoods. Second quarter parking revenues were down $2.5 million or 45 percent over the previous year’s quarter.

TRANSACTION ACTIVITY

In April 2020, 111 River Street, a 566,000-square-foot office building in Hoboken, New Jersey, was contracted for sale for $244.5 million, or $432 per square foot, which is subject to due diligence.

Subsequent to quarter-end, the Company executed a term sheet for a $165 million mortgage loan with its current lender on the BLVD 475 (f.k.a. Monaco) to replace its existing debt effective by year end 2020.

SUBURBAN OFFICE DISPOSITION UPDATE

Subsequent to quarter end, the Company executed an amendment to its agreement to sell the Parsippany and Giralda Farms portfolio, as follows:

The remaining office portfolios in Monmouth, Short Hills and MetroPark are now expected to close either in the fourth quarter of 2020 or early 2021.

BALANCE SHEET/CAPITAL MARKETS

As of June 30, 2020, the Company had a debt-to-undepreciated assets ratio of 50.2 percent compared to 48.0 percent at December 31, 2019 and 42.7 percent at June 30, 2019. Net debt to adjusted EBITDA for the quarter ended June 30, 2020 was 13.0x compared to 9.5x for the quarter ended June 30, 2019. The Company's interest coverage ratio was 2.6x for the quarter ended June 30, 2020, compared to 2.9x for the quarter ended June 30, 2019.

DIVIDEND

In July 2020, the Company’s Board of Directors declared a quarterly cash dividend of $0.20 per common share for the second quarter 2020, which was paid on July 24, 2020 to shareholders of record as of July 13, 2020.

CONFERENCE CALL/SUPPLEMENTAL INFORMATION

An earnings conference call with management is scheduled for August 3, 2020 at 8:00 a.m. Eastern Time, which will be broadcast live via the Internet at:

https://edge.media-server.com/mmc/p/va454g8t

The live conference call is also accessible by calling (323) 289-6576 and requesting the Mack-Cali earnings conference call.

The conference call will be rebroadcast on Mack-Cali’s website at http://investors.mack-cali.com/corporate-profile beginning at 10:00 a.m. Eastern Time on August 3, 2020.

A replay of the call will also be accessible August 3, 2020 through August 10, 2020 by calling (719) 457-0820 and using the pass code, 5690090.

Copies of Mack-Cali’s Second Quarter 2020 Supplemental Operating and Financial Data is available on Mack-Cali’s website, as follows:

Second Quarter 2020 Form 10-Q:

http://investors.mack-cali.com/sec-filings

Second Quarter 2020 Supplemental Operating and Financial Data: 

http://investors.mack-cali.com/quarterly-supplementals

In addition, once filed, these items will be available upon request from:

Mack-Cali Investor Relations Department - Deidre Crockett 

Harborside 3, 210 Hudson St., Ste. 400, Jersey City, New Jersey 07311

(732) 590-1025

INFORMATION ABOUT FFO

Funds from operations (“FFO”) is defined as net income (loss) before noncontrolling interests in Operating Partnership, computed in accordance with generally accepted accounting principles (“GAAP”), excluding gains or losses from depreciable rental property transactions (including both acquisitions and dispositions), and impairments related to depreciable rental property, plus real estate-related depreciation and amortization. The Company believes that FFO per share is helpful to investors as one of several measures of the performance of an equity REIT. The Company further believes that as FFO per share excludes the effect of depreciation, gains (or losses) from property transactions and impairments related to depreciable rental property (all of which are based on historical costs which may be of limited relevance in evaluating current performance), FFO per share can facilitate comparison of operating performance between equity REITs.

FFO per share should not be considered as an alternative to net income available to common shareholders per share as an indication of the Company’s performance or to cash flows as a measure of liquidity.  FFO per share presented herein is not necessarily comparable to FFO per share presented by other real estate companies due to the fact that not all real estate companies use the same definition. However, the Company’s FFO per share is comparable to the FFO per share of real estate companies that use the current definition of the National Association of Real Estate Investment Trusts (“NAREIT”). A reconciliation of net income per share to FFO per share is included in the financial tables accompanying this press release.

Core FFO is defined as FFO, as adjusted for certain items to facilitate comparative measurement of the Company's performance over time. Core FFO is presented solely as supplemental disclosure that the Company's management believes provides useful information to investors and analysts of its results, after adjusting for certain items to facilitate comparability of its performance from period to period. Core FFO is a non-GAAP financial measure that is not intended to represent cash flow and is not indicative of cash flows provided by operating activities as determined in accordance with GAAP. As there is not a generally accepted definition established for Core FFO, the Company's measures of Core FFO may not be comparable to the Core FFO reported by other REITs. A reconciliation of net income per share to Core FFO in dollars and per share is included in the financial tables accompanying this press release.

ABOUT THE COMPANY

One of the country's leading real estate investment trusts (REITs), Mack-Cali Realty Corporation is an owner, manager and developer of premier office and multifamily properties in select waterfront and transit-oriented markets throughout the Northeast. Mack-Cali is headquartered in Jersey City, New Jersey, and is the visionary behind the city's flourishing waterfront, where the company is leading development, improvement and place-making initiatives for Harborside, a master-planned destination comprised of class A office, luxury apartments, diverse retail and restaurants, and public spaces.

A fully-integrated and self-managed company, Mack-Cali has provided world-class management, leasing, and development services throughout New Jersey and the surrounding region for two decades. By regularly investing in its properties and innovative lifestyle amenity packages, Mack-Cali creates environments that empower tenants and residents to reimagine the way they work and live.

For more information on Mack-Cali Realty Corporation and its properties, visit www.mack-cali.com.

The information in this press release must be read in conjunction with, and is modified in its entirety by, the Quarterly Report on Form 10-Q (the “10-Q”) filed by the Company for the same period with the Securities and Exchange Commission (the “SEC”) and all of the Company’s other public filings with the SEC (the “Public Filings”). In particular, the financial information contained herein is subject to and qualified by reference to the financial statements contained in the 10-Q, the footnotes thereto and the limitations set forth therein. Investors may not rely on the press release without reference to the 10-Q and the Public Filings.

We consider portions of this report, including the documents incorporated by reference, to be forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. We intend such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in Section 21E of such act. Such forward-looking statements relate to, without limitation, our future economic performance, plans and objectives for future operations and projections of revenue and other financial items. Forward-looking statements can be identified by the use of words such as “may,” “will,” “plan,” “potential,” “projected,” “should,” “expect,” “anticipate,” “estimate,” "target," “continue” or comparable terminology. Forward-looking statements are inherently subject to certain risks, trends and uncertainties, many of which we cannot predict with accuracy and some of which we might not even anticipate. Although we believe that the expectations reflected in such forward-looking statements are based upon reasonable assumptions at the time made, we can give no assurance that such expectations will be achieved. Future events and actual results, financial and otherwise, may differ materially from the results discussed in the forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements.

In addition, the extent to which the ongoing COVID-19 pandemic impacts us and our tenants will depend on future developments, which are highly uncertain and cannot be predicted with confidence, including the scope, severity and duration of the pandemic, the actions taken to contain the pandemic or mitigate its impact, and the direct and indirect economic effects of the pandemic and containment measures, among others.

Mack-Cali Realty Corporation

Consolidated Statements of Operations

(In thousands, except per share amounts) (unaudited)

Mack-Cali Realty Corporation

Statements of Funds from Operations and Core FFO 

(in thousands, except per share/unit amounts) (unaudited)

Statements of Funds from Operations (FFO) and Core FFO per Diluted Share

(amounts are per diluted share, except share counts in thousands) (unaudited)

Mack-Cali Realty Corporation

Consolidated Balance Sheets 

(in thousands, except per share amounts) (unaudited)