Article: Mack-Cali Realty and SJP Properties Announce New Jersey Development Venture.

CRANFORD, NJ--(BUSINESS WIRE)--March 24, 1999--Mack-Cali Realty Corporation (NYSE: CLI)and SJP Properties today announced that they have entered into a joint venture agreement to develop two class A office projects in central New Jersey.

The joint venture is preparing to break ground on a site previously controlled by SJP Properties. This project, Liberty Corner Corporate Center, will be a $23 million, 135,000 square-foot class A office building located in Liberty Corner, off Interstate 78 in Bernards Township.

Mack-Cali will provide construction financing for the project, and upon completion will fund the equity required to repay the construction ...

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