Mack-Cali Realty Corporation

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Mack-Cali Realty Corporation
Traded as NYSECLI
S&P 400 Component
Industry Real Estate Investment Trust, Real Estate, Commercial Real Estate, Multi-family Real Estate, Real Estate Leasing, Acquisition, Property Management, and Development
Founded 1997 (1994 was Cali Realty Corporation's initial public offering. In 1997, the merger happened and the present day company was founded:
Headquarters Jersey City, New Jersey
Area served
Key people
Michael J. DeMarco, CEO

Mack-Cali Realty Corporation is a publicly traded real estate investment trust[1] (REIT) with holdings throughout the Northeast and New Jersey.[2] The majority of Mack-Cali’s holdings are in commercial real estate including class A office space, although in recent years they have increased investment in multi-family residential properties.[3] The company provides commercial real estate leasing, management, and development services for their real estate properties.[4] Its headquarters are located in Jersey City, New Jersey.[5]


1950s and 60s: Founding and early years[edit]

Mack-Cali was founded in 1949 as “Cali Associates” by John J. Cali, Angelo R. Cali, and Edward Leshowitz.[6] In the 1950s, Cali Associates existed as a developer of single family homes in the region of northern New Jersey.[7] During the late 1960s, Cali Associates began to diversify their offerings and develop suburban office buildings to meet growing demand. In 1969, the company completed construction on its first office building, 14 Commerce Drive, which is located in Cranford Business Park, Cranford, New Jersey.

1970s and 80s: A focus on suburban office development[edit]

During the 1970s and 1980s, Cali Associates capitalized on increasing population and commerce in New Jersey by building 2.2 million square feet of class A office space. These decades brought growth for the company and cemented its development, construction, and property management credentials.

1990s: Acquisitions, public offering and Mack-Cali merger[edit]

In the early 1990s, Cali Associates moved away from building development and began to focus instead on building asset acquisition and management.[8] In August 1994, Cali Associates became a publicly held real estate investment trust and changed its name to “Cali Realty Corporation,” under a new management team which consisted of Brant Cali, John R. Cali, and Thomas A. Rizk.[9] During this period, the company also began to expand geographically, acquiring properties in suburban Philadelphia. In 1997, Cali Realty Corporation acquired the Robert Martin Company for $450 million.[10] This transaction added 65 properties and 4.1 million square feet to its portfolio with many of these new holdings located Westchester County, NY and Connecticut.

In December of the same year, Cali Realty Corporation completed a $1.2 billion merger with Patriot American Office Group and The Mack Company (founded by H. Bert Mack and operated by his four sons: Earle I. Mack, William L. Mack, Fredric H. Mack, and David S. Mack). The new entity was renamed “Mack-Cali Realty Corporation.” At the time, this merger represented the largest REIT transaction of its kind.[11]

2000s and today: Acquisition of Gale Company, Roseland, and New Ventures[edit]

In 2004, Mitchell E. Hersh became president of the company[12] and was succeeded in 2015 by the new CEO, Mitchell E. Rudin, and Michael J. DeMarco, President and COO.[13] Hersh was a member of the Board of Directors since 1997 and Chief Executive Officer of the company from 1999 to 2014.[14] In 2006, Mack-Cali acquired the Gale Company, a private real estate firm located in New Jersey. The purchase resulted in a 2.8-million-square-foot increase in Mack-Cali’s office property holdings. In line with shifting market trends, Mack-Cali purchased Roseland Property Company in 2012. At the time, Roseland’s interest in multi-family residential property in New Jersey included six fully operational multi-family apartments as well as a number of luxury residential properties for lease in the process of being developed.[15]

Since then, Roseland Residential Trust has completed three luxury residential developments alongside the Hudson River waterfront, including the $120 million RiverTrace waterfront tower at Port Imperial, which was completed in October 2013. In that regard, Roseland played a major role in the residential property boom in New Jersey’s Hudson County.[16] More recent mixed-use luxury developments Roseland plays an active role in include Portside at East Pier, in East Boston. Its flagship building opened in November 2014.[17] Upon completion, Portside at East Pier should add more than 560 additional residences to an urban area challenged by a fast-growing population.[18]

Major development projects[edit]

Harborside, located in Jersey City, New Jersey, is mixed-use complex of offices and multifamily apartments on the Hudson Waterfront. The complex includes a number of proposed and completed commercial real estate buildings including Harborside 2, Harborside 3 Harborside 4A, and Harborside 5 which have all been listed as amongst the top 50 office buildings in the state.[19] In October 2016, Mack-Cali unveiled plans to build Harborside 4, a 1.2 million-square-foot office tower, in joint-venture with SJP Properties.[20] On January 15, 2014 Mack-Cali and joint venture partner Ironstate Development Company broke ground on Urby Harborside 1, a multi-family residential tower that is located on the Jersey City Waterfront. The first tower, Urby Harborside 1, was topped off in September 2015 and is 69 stories in height, with 763 apartments. Urby Harborside 1 is one of three towers that make up the Urby Harborside development, which will include 2,358 residences.[21] 17 Skyline Drive is a two-story, 85,000-square-foot office building built for IBM and located at the Mid-Westchester Executive Park in Hawthorne, New York.[22] RiverTrace at Port Imperial is a luxury rental building located in West New York, New Jersey. It consists of 316 studio, one-, two-, or three-bedroom apartments.[23] Ribbon cutting ceremonies took place in October 2013; the building represents the first multi-family residential structure completed by Mack-Cali since their acquisition of Roseland.[24]


A number of buildings and properties have achieved Leadership in Energy and Environmental Design (LEED) certification from the U.S. Green Building Council. Within Mack-Cali’s ownership, LEED Silver certification recipients include: 4 Gatehall Drive, Mack-Cali Business Campus, Parsippany, NJ;[25] 105 Eisenhower Parkway, Eisenhower/280 Corporate Center, Roseland NJ;[26] 8 Campus Drive, Mack-Cali Business Campus, Parsippany, NJ;[27] and RiverTrace Port Imperial in West New York, NJ.[28] Additionally, many Mack-Cali properties have received recognition for energy efficiency in the form of ENERGY STAR status from the U.S. Environmental Protection Agency/U.S. Department of Energy. ENERGY STAR properties in 2014 included:

  • South Westchester Executive Park, Yonkers, NY
  • One Water Street, White Plains, NY
  • 3 Barker Avenue, White Plains, NY
  • Mack-Cali Business Campus, Parsippany, NJ

LEED Gold-recognized properties include:

  • 5 Wood Hollow Rd, Parsippany, NJ [29]


Mack-Cali has been the recipient of acknowledgement from both inside and outside of the real estate community. Recognitions include:

  • 2015: Harborside Plaza 5 earns Platinum Certification, awarded by WiredScore[30]
  • 2015: Harborside Plaza 2 earns Platinum Certification, awarded by WiredScore[31]
  • 2015: 101 Hudson St. earns Platinum Certification, awarded by WiredScore[32]
  • “Top Public Real Estate Companies (#3 of 25),” Crain’s New York Business[33]
  • “2013: Best Commercial Real Estate Provider - Gold Level,” awarded by the New Jersey Law Journal[34]
  • “2013: The Outstanding Building of the Year: 17-17 Route 208 North, Fair Lawn, NJ,” awarded by the Building Owners and Managers Association[35]
  • “2013: The Outstanding Building of the Year: 999 Riverview Drive, Mack-Cali Commercenter, Totowa, NJ” awarded by Building Owners and Managers Association[36]
  • “2012: Building Energy Reduction Award: Bridgewater I, 721 Route 206, Bridgewater, NJ; 8 Campus Drive, Mack-Cali Business Campus, Parsippany, NJ; and 10 Mountainview Road, Upper Saddle River, NJ ” awarded by the Building Owners and Managers Association[37]
  • “2011: Top U.S. Real Estate Companies (#9 out of 50),” awarded by Commercial Property Executive[38]
  • “2010: Rated one of the most trustworthy companies according to Forbes.”[39]


  1. ^ Arnold, Laurence (4 February 2014). "John Cali, Co-Founder of Mack-Cali Predecessor, Dies at 95". Bloomberg News. Retrieved 8 April 2014. 
  2. ^ "About Mack-Cali". Mack-Cali Realty Corporation. Retrieved 19 February 2014. 
  3. ^ "Mack-Cali Realty Corporation Sales Preparation". company information database. Hoovers: a D&B Company. Retrieved 19 February 2014. 
  4. ^ Ori, Joseph. "REIT Focus: Mack-Cali Realty Corporation". Seeking Alpha. Retrieved 19 February 2014. 
  5. ^
  6. ^ Hevesi, Dennis (December 15, 2006). "Angelo R. Cali, 91, Founder of Real Estate Trust, Dies". The New York Times. Retrieved 19 February 2014. 
  7. ^ "Mack-Cali History". Mack-Cali Realty Corporation. Retrieved 19 February 2014. 
  8. ^ "Mack-Cali Realty Corporation - Company Profile, Information, Business Description, History, Background Information on Mack-Cali Realty Corporation". Reference for Business: Company History Index. Retrieved 19 February 2014. 
  9. ^
  10. ^ "Mack-Cali Realty Corporation - Company Profile, Information, Business Description, History, Background Information on Mack-Cali Realty Corporation". Reference for Business: Company History Index. Retrieved 19 February 2014. 
  11. ^ Garbarine, Rachelle (January 4, 1998). "Commercial Property/Mack-Cali Realty Corporation; From Two Family Firms, a 'Super-Regional REIT'". The New York Times. Retrieved 19 February 2014. 
  12. ^ "Mack-Cali Realty Corp (CLI:New York)". Bloomberg Businessweek. Retrieved 8 April 2014. 
  13. ^ "Mack-Cali Names Mitch Rudin CEO, Mike DeMarco President". Commercial Real Estate Direct. Retrieved 3 June 2015. 
  14. ^ "Mitchell E. Hersh". Forbes Magazine. Retrieved 8 April 2014. 
  15. ^ "Roseland: A Mack-Cali Company". Mack-Cali Corporation. Retrieved 19 February 2014. 
  16. ^ "New York Times". 17 November 2011. Retrieved 16 December 2016. 
  17. ^ "Multi-Housing News". Retrieved 13 December 2016. 
  18. ^ "Boston Globe". 20 April 2014. Retrieved 12 December 2016. 
  19. ^ "NJBIZ Lists". NJBIZ. Retrieved 19 February 2014. 
  20. ^ "NJBIZ". 25 October 2016. Retrieved 15 December 2016. 
  21. ^ "Mack-Cali Realty Corporation/Ironstate Break Ground On New Urban Ready Living(R) Residential Tower On Jersey City Waterfront". The Wall Street Journal. January 15, 2014. Retrieved 19 February 2014. 
  22. ^ "Mack-Cali Realty's CEO Discusses Q3 2011 Results - Earnings Call Transcript". Seeking Alpha. Retrieved 19 February 2014. 
  23. ^ "RiverTrace at Port Imperial West New York, NJ". Mack-Cali Corporation. Retrieved 19 February 2014. 
  24. ^ "Mack-Cali's Roseland Unveils RiverTrace at Port Imperial, a New Luxury Waterfront Rental Community in West New York". Mack-Cali Realty Corporation. Retrieved 19 February 2014. 
  25. ^ "Mack-Cali's Parsippany Property Achieves Leed Silver Certification". World News Network. Retrieved 19 February 2014. 
  26. ^ "Mack-Cali's Roseland Property Achieves LEED Silver Certification". Mack-Cali Realty Corporation. Retrieved 19 February 2014. 
  27. ^ "Mack-Cali Office Bldg Achieves LEED Silver". CoStar Group. Retrieved 19 February 2014. 
  28. ^ "Roseland Achieves LEED® Silver Certification at RiverTrace at Port Imperial". PR Newswire. Retrieved 9 February 2015. 
  29. ^ "Mack-Cali earns LEED Gold at Wood Hollow". Real Estate Weekly. Retrieved 17 July 2014. 
  30. ^ Crandall, Brianna (November 13, 2015). "Mack-Cali Class A office tower earns WiredScore Platinum". FM Link. Retrieved 13 November 2015. 
  31. ^ Makin, Bob (May 29, 2015). "Recent Central Jersey commercial real estate deals". My Central Jersey. Retrieved 29 May 2015. 
  32. ^ Lubetkin, Steve (May 14, 2015). "Mack-Cali's Harborside And 101 Hudson Get Platinum Wiredscore Certification". Globe St. Retrieved 14 May 2015. 
  33. ^ "New York's Top Public Real Estate Companies". Crain's New York Business. Retrieved 19 February 2014. 
  34. ^ "The Best of 2013". New Jersey Law Journal. Retrieved 8 April 2014. 
  35. ^ "The 2013 Outstanding Building of the Year Award Winners". The Building Owners & Managers Association. Retrieved 19 February 2014. 
  36. ^ "The 2013 Outstanding Building of the Year Award Winners". The Building Owners & Managers Association. Retrieved 19 February 2014. 
  37. ^ "Three Mack-Cali Properties Receive Energy Reduction Awards". NJ Business Magazine. Retrieved 19 February 2014. 
  38. ^ "Top U.S. Real Estate Companies". Commercial Property Executive. Retrieved 19 February 2014. 
  39. ^ Weinberg, Neil (August 6, 2010). "The Most Trustworthy Companies". Forbes Magazine. Retrieved 19 February 2014.