Mack-Cali Realty Corporation (NYSE: CLI) today announced that Michael A. Grossman is leaving his position as executive vice president effective immediately, and has agreed to stay on for a brief period to assist in the transition of his responsibilities. Mr. Grossman has been with Mack-Cali and its predecessor companies for over 25 years.
Mitchell E. Hersh, Mack-Cali president and chief executive officer, commented, “Michael has been a valued member of the executive team for the past 14 years. During that time he served in a number of capacities, including having participated in a number of acquisitions and been responsible for the Company’s leasing activities. His service to the Company will be missed and I wish him well in his future endeavors.”
Mr. Grossman commented, “Mack-Cali and its predecessors have been my professional home since 1985. I’ve had the privilege to work with many bright and capable people, and I am thankful for the opportunities afforded to me to develop my career over these many years.”
About the Company: 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 278 properties, primarily office and office/flex buildings located in the Northeast, totaling approximately 32.4 million square feet. The properties enable the Company to provide a full complement of real estate opportunities to its diverse base of over 2,000 tenants.
Among the country’s largest real estate investment trusts (REITs), Mack-Cali Realty Corporation is a leading owner, manager, and developer of class A office properties.
The Company’s property portfolio consists of approximately 32.4 million square feet of primarily office and office/flex buildings in the Northeast and Mid-Atlantic regions, as well as land to accommodate approximately 11 million square feet of additional commercial development.
With debt-free ownership of the bulk of its portfolio, Mack-Cali is able to offer a faster and more streamlined leasing process. In addition, the Company is vertically integrated, providing a full range of leasing, property management, construction, legal, space planning, and architectural services.
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Post Written By: Ed Liston
Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing in his yacht.
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