Cali Wins 1997 Office Building of the Year Award

06/20/1997 Category: Miscellaneous

Industry Award Recognizes Cali's International Financial Tower as a Top Office Building in New Jersey

CRANFORD, NJ--June 20, 1997--Cali Realty Corporation today announced that the Company's International Financial Tower in Jersey City received the 1997 Office Building of the Year ('TOBY') award. The much coveted industry award recognizes Cali's International Financial Tower as one of New Jersey's foremost office buildings.

The award was presented at the New Jersey Chapter of the Building Owners and Managers Association (BOMA) annual awards dinner on June 11 at the Meadowlands Racetrack, East Rutherford, NJ.

Accepting on behalf of Cali Realty, Richard W. Daunno, Senior Property Manager of the International Financial Tower, commented, "While Cali is most often making news these days for acquiring properties, we are especially proud of this award as it cites our expertise as building managers and developers. With the exceptional growth Cali has undergone since going public in 1994, this type of award confirms our continued excellence in property management." Daunno went on to note that the International Financial Tower is the largest building ever developed by Cali.

The TOBY award is based on excellence in office building management, where all facets of a building's operations are evaluated including building maintenance, tenant relations programs, and community involvement. Cali was awarded the TOBY award in the corporate facility category, which requires that at least 50% of the building be occupied by one tenant. Pershing, a division of Donaldson, Lufkin and Jenrette, occupies almost 70% of the building's space.

International Financial Tower, located at 95 Christopher Columbus Drive in Jersey City, is a 19-story, 622,000 square-foot, class A office building developed by Cali in 1989. The building is 100% leased to tenants including Pershing, NTT Data Corporation, Equity Life Insurance and others.

Cali Realty Corporation is a fully integrated, self-administered, self-managed real estate investment trust (REIT) providing leasing, management, acquisition, development, construction and tenant-related services for its portfolio. Cali owns 127 properties, primarily office and office/flex buildings, totaling 11.8 million square feet. All of the properties are located in New Jersey, New York, Pennsylvania, and Connecticut. Further information on Cali Realty Corporation is available at the company's website at http://www.calirealty.com