NEW YORK CITY—There are many reasons to choose to work in commercial real estate, not the least of which are its potential financial rewards. But for Mitchell Rudin, CEO of Mack-Cali and an attorney by training the field offered a key enticement—longevity.
And from what he shared with ALM Real Estate Media Group VP and group publisher Michael Desiato last week in Midtown, during the “Inside the Real Estate Mind” at RealShare New York, it's clear that Rudin has focused not just on having a good career but also a successful personal life.
“When you look at media, what industry are octogenarians in? It's real estate, and that's not because they have to pay their rent,” he mused. “They're enthusiastic and engaged, as if they were 35, not 75.”
Rudin credited much of his success to his healthy marriage of 32 years and the work/life balance he achieved, allowing him to forge healthy relationships with his family.
“I don't know of anyone who has a better relationship with his spouse and children and now daughter-in-law than I do. I was able to accomplish that, while being fully dedicated to my career, by establishing and recognizing priorities. So on a typical day, that might mean 12 to 14 hours are devoted to work but at those important moments—and that didn't mean every moment—I was there for my family and friends.”
He focused on people during his career too. Prior to joining Mack-Cali, Rudin served as president and CEO of US commercial operations at Brookfield Office Properties, and previously was president of the New York tri-state region at CBRE (by way of having been with Insignia/ESG, which later merged with CBRE).
“Diversity has been central to my career,” Rudin declared. “Once I had the opportunity and was in the position to do something material about it I did. In 2003, when Insignia merged into CBRE, I co-founded the African American network group at CBRE, and I facilitated the creation of a tri-state women's network, which worked in concert with the well-established national network that CBRE had.”
He continued, “When I moved to Brookfield, I worked to establish a women's network there and connected them with the CBRE tri-state network to serve as a mentor. After my departure from CBRE, the African American group established a Mitchel E. Rudin diversity award.”
In terms of the work itself, Rudin enjoyed success early on. “In the early 90's when there was a real estate market crash, I established an asset management group working with the resources at ESG that ultimately went on to win 21 of 24 pitches and established a portfolio in excess of 30 million square feet. That group still exists today at CBRE.”
But Rudin's current work has a different focus—and likely a new path to success. “Before, Mack-Cali was often defined by its worst suburban assets. But today we're building one of the country's great waterfront mixed-use developments in Jersey City, at a time when the term 'mixed-use' is on everybody's tongues. We're growing by repositioning capital into assets that we like.”
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Rayna Katz
Rayna Katz is a seasoned business journalist whose extensive experience includes coverage of the lodging sector, travel and the culinary space. She was most recently content director for a business-to-business publisher, overseeing four publications. While at Meeting News, a travel trade publication, she received a Best Reporting award for a story on meeting cancellations in New Orleans during Hurricane Katrina.
