EDISON, NJ—Several industry observers are encouraged by Mack-Cali's appointment of Mitchell E. Rudin, formerly president and chief executive officer of US Commercial Operations at Brookfield Office Properties, as chief executive officer, and Michael J. DeMarco, as president and chief operating officer.

“Mack-Cali may have hit the jackpot with this new leadership,” James Hughes, dean of the Edward J. Bloustein School of Planning and Public Policy at Rutgers University, tells GlobeSt.com exclusively. “Brookfield's recent transformation of the World Financial Center in lower Manhattan to Brookfield Place was superbly executed. This experience will be invaluable in the ongoing transformation of Mack-Cali.”

Michael McGuinness, chief executive of the New Jersey chapter of NAIOP, suggests the appointments signal that Mack-Cali will remain an important player in the office property sector.

“Although I don't know these folks, it seems to me that given their backgrounds, Mack-Cali will not be getting out of the office market any time soon,” McGuinness tells GlobeSt.com. “In fact, I would expect to see the firm more energized and aggressively converting many of their existing office holdings into product that will attract talented young professionals to which capital and jobs will follow. With the caliber of the new blood, municipalities may be more willing to trust the firm's vision and development plans.”

Peter Reinhart, executive director of the Kislak Real Estate Institute at Monmouth University called the appointments a continuation of a “strong leadership tradition” at Mack-Cali, and thinks the company also intends to be an important player in the multifamily business.

“Mack-Cali's selection of Mitch Rudin as its next CEO brings a highly experienced professional who not only understands its core business but also understands a public company,” Reinhart tells GlobeSt.com exclusively. “Combined with the investment banking experience of Michael Demarco, Mack-Cali has added balanced talents at the top. The inclusion in its announcement of Roseland may be an indication that it intends to include the multifamily sector as an important piece of the business. Time will tell. Mitch Hersh was a strong leader and we should expect Mitch Rudin to continue the strong leadership tradition.”

As previously reported by GlobeSt.com, Rudin and DeMarco will work closely with with Marshall Tycher, president of Roseland, Mack-Cali's multifamily subsidiary.