MONTCLAIR, NJ-John Cali, who co-founded Mack-Cali Realty Corp., died on Saturday, the company announced this morning.
Cali co-founded Cali Associates in 1949 with his brother, Angelo R. Cali, and a friend, Edward Leshowitz. He was chairman of the board of Cali Realty Corporation when the company went public two decades ago.
Cali remained chairman through the growth of the Cali REIT and its merger in 1997 with the Mack Company. He retired as chairman in 2000 and served in an emeritus capacity until his retirement in 2003.
Mitchell E. Hersh, Mack-Cali's president and CE0, said that Cali's impact on commercial real estate in New Jersey and the region will be “forever be evident.”
“His experience, knowledge, guidance, philanthropy, and friendship will be greatly missed,” Hersh said.
Cali was well-known as a philanthropist, especially in the arts, and especially in his home town of Montclair. Cali gave $5 million to Montclair State University in 2006 that helped establish a school of music that bears his name. Another local organization that received his aid was the Jazz House Kids – whose students honored Cali, a saxophone player, at the school's recent ten-year anniversary.
Today Mack-Cali Realty Corp. owns or has interests in 279 properties, including 267 office and flex properties with 31 million square feet and 12 multi-family rental properties containing over 3,600 residential units.
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