EDISON, NJ—Mack-Cali Realty Corporation (NYSE: CLI) yesterday hosted a breakfast symposium for members of the New Jersey and New York City commercial real estate brokerage community at its Harborside property on the Jersey City Waterfront. The event was organized to inform the audience about the recently signed New Jersey Economic Opportunity Act of 2013.
Over 100 brokers gathered to hear an esteemed group of professionals discuss the provisions of the Act and its impact on their collective efforts to retain and attract businesses to New Jersey.
The event was moderated by Mitchell E. Hersh, president and chief executive officer of Mack‑Cali Realty Corporation and chairman and chief executive officer of its Roseland subsidiary, and Carl Goldberg, co‑president of Roseland. The panelists included Tim Lizura, president and chief operating officer of the New Jersey Economic Development Authority (NJEDA), Jay Biggins, executive managing director of Biggins Lacy Shapiro & Company, and Philip F. McGovern, partner of Connell Foley.
Tim Lizura of the NJEDA began by explaining, “Everyone is familiar with our BEIP, BRRAG, Urban Transit Hub Tax Credit (UTHTC), ERG, and Grow NJ programs… well this new Act simplifies, streamlines, and synthesizes these into just two – ERG and Grow NJ.”
Mitchell E. Hersh of Mack-Cali commented, “I’m delighted that we were able to gather this impressive group of professionals to inform the audience in a very topical way, on Tuesday the Board of the New Jersey Economic Development Authority awarded Mack-Cali and our partner Ironstate Development a $33 million tax credit so we can now begin our Harborside URL™ multi-family residential project.”
About Mack-Cali Realty Corporation
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 275 properties consisting of 266 office and office/flex properties totaling approximately 30.7 million square feet and nine multi-family rental properties containing over 3,300 residential units, all located in the Northeast. The properties enable the Company to provide a full complement of real estate opportunities to its diverse base of commercial and residential tenants.
Additional information on Mack-Cali Realty Corporation is available on the Company’s website at www.mack‑cali.com.
Statements made in this press release may be forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements can be identified by the use of words such as “may,” “will,” “plan,” “potential,” “should,” “expect,” “anticipate,” “estimate,” “continue,” or comparable terminology. Such forward-looking statements are inherently subject to certain risks, trends and uncertainties, many of which the Company cannot predict with accuracy and some of which the Company might not even anticipate, and involve factors that may cause actual results to differ materially from those projected or suggested. Readers are cautioned not to place undue reliance on these forward-looking statements and are advised to consider the factors listed above together with the additional factors under the heading “Disclosure Regarding Forward-Looking Statements” and “Risk Factors” in the Company’s Annual Reports on Form 10-K, as may be supplemented or amended by the Company's Quarterly Reports on Form 10-Q, which are incorporated herein by reference. The Company assumes no obligation to update or supplement forward-looking statements that become untrue because of subsequent events, new information or otherwise.