MACK-CALI SELLS MACK-CALI AIRPORT PROPERTY FOR ABOUT $32.3M
(The following press release from Mack-Cali Realty Corporation was received by e-mail and was reformatted. The sender verified the statement.)
M A C K - C A L I R E A L T Y C O R P O R A T I O N
For Immediate Release
MACK-CALI SELLS BERGEN COUNTY, NEW JERSEY PROPERTY
Edison, New Jersey-May 2, 2013-Mack-Cali Realty Corporation (NYSE: CLI) today announced that it has sold its Mack-Cali Airport property located in Little Ferry, New Jersey, for approximately $32.3 million. The sold building is a fully leased, two-story, 286,628-square-foot commercial property.
Mitchell E. Hersh, president and chief executive officer of Mack-Cali, commented, "The sale of this property continues our strategy of recycling our capital out of non-core assets to fuel our diversification into multi-family."
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, consisting of 268 office and office/flex properties totaling approximately 30.9 million square feet and nine multi-family rental properties containing over 3,300 residential units, all located in the Northeast. The properties enable the Company to provide a full complement of real estate opportunities to its diverse base of commercial and residential tenants.
Additional information on Mack-Cali Realty Corporation is available on the Company's website at www.mack-cali.com<http://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," "potential," "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: Barry Lefkowitz Ilene Jablonski
Mack-Cali Realty Corporation Mack-Cali Realty Corporation
Executive Vice President Vice President of Marketing
and Chief Financial Officer (732) 590-1000