Commercial real estate firm Mack-Cali Realty Corp. announced Wednesday that Michael DeMarco will become the firm’s new CEO, as former CEO Mitchell Rudin takes on the role of vice chairman.
Marshall Tycher will continue as the chairman of Roseland Residential, Mack-Cali’s residential real estate subsidiary.
“Given the strong success of Mack-Cali over the last two years under our leadership, the company is well positioned to continue its strategic evolution,” De Marco said. “As we move ahead, Marshall, Mitch and I are extremely enthused by the success of our transformation thus far and by the opportunities to continue to grow our dual, office and multifamily platform focused on the Hudson River waterfront and transit-based markets.”
DeMarco brings over 30 years of industry experience to his new leadership role. He joined Mack-Cali in 2015 as the president and chief operating officer. Before his time at the company, DeMarco held various roles at firms including Vornado Realty Trust, Fortress Investments and Lehman Bros. Real Estate Investment Banking Group.