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Mack-Cali Realty Corp.

Acquisitive 1997 Sees
Super-regional Mack-Cali Add To
Suburban Philadelphia Portfolio

Black's Guide - Spring 1998
Cover Story:

   

When Mack-Cali Realty Corporation, formerly Cali Realty Corporation, entered the suburban Philadelphia market in May 1996 with its purchase of Rose Tree Corporate Center, the company saw the move as a natural extension of its 48-year presence in suburban New Jersey. Now, just two years later, its holdings in suburban Philadelphia have increased to 38 properties totaling 2.6 million square feet.

Cali Realty experienced a tremendous year of growth in 1997, acquiring Westchester, New York-based Robert Martin Company in January and merging with New Jersey-based Mack Company and Dallas-based Patriot American Office Group in December. The transactions positioned the company, renamed Mack-Cali, as the Ďsuper-regionalĒ REIT in the Northeast and one of the top real estate investment trusts in the country. Upon completion of pending transactions, Mack-Caliís portfolio will total over 25 million square feet of suburban class A office, office/flex and industrial/warehouse space, including over 20 million square feet in the Northeast.

   
  

Airport Business Center, Lester, PA. Adjacent to the Philadelphia International Airport, this three-building class A complex totals 371,000 square feet.

Mack-Caliís strategy is simple and straightforward: enter promising markets, acquire the best-quality office assets and build on local management expertise to become a major player in that market. Mack-Cali seeks to leverage its management teamís experience to execute relationship-driven transactions, increasing its strong presence through strategic acquisitions within its core markets. Key to the companyís strategic objective is not only to acquire high-quality properties but also to gain the expertise of the management that operates them. This objective has created one of the most experienced and successful teams in the real estate industry.

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