Mack-Cali Announces Five-Year 300,378 Square-Foot Lease Renewal With Nabisco, Inc. At Parsippany Property

Business Wire, Nov 3, 1999

CRANFORD, NJ--(BUSINESS WIRE)--November 3, 1999--

Mack-Cali Realty Corporation (NYSE:CLI) today announced it has signed a five-year lease renewal with Nabisco, Inc. for 300,378 square feet at Mack-Cali Business Campus in Parsippany, New Jersey.

Nabisco occupies all of 7 Campus Drive and 7 Sylvan Way in the class A, 860,000 square-foot office park, which is currently 98% leased.

"We are pleased to service the real estate needs of corporate America's leading companies such as Nabisco," commented Mitchell E. Hersh, chief executive officer of Mack-Cali. "This 300,000 square-foot lease renewal also adds significantly to the long-term stability of this premier business campus."

Nabisco, Inc. is a major international manufacturer of biscuits, snacks, and premium grocery products. Nabisco markets products in the United States, Canada and more than 85 other countries around the world.

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 256 properties, primarily office and office/flex buildings, totaling approximately 28.4 million square feet, located in 12 states and the District of Columbia. The properties, which are primarily located in the Northeast, enable the Company to provide a full complement of real estate opportunities to its diverse base of over 2,400 tenants.

Additional information on Mack-Cali Realty Corporation is available on the Company's Web site at http://www.mack-cali.com.