SHORT HILLS, NJ (December 12, 2005) - Reckson Associates Realty Corp. (NYSE: RA)
has announced that Brian Fitzsimons has been promoted to Vice President, Leasing
of its New Jersey division. In this capacity, he will be responsible for leasing
the Company's three million-square-foot New Jersey Class A office portfolio.
Commenting on the appointment, Todd Rechler, Corporate Senior Vice President
and Managing Director of Reckson's New Jersey division said, "We are very
pleased to announce Brian's promotion to Vice President of leasing for the New
Jersey region. His proven leasing experience and understanding of the New Jersey
marketplace will enable Reckson Associates to continue our market leadership
position. He has already demonstrated clear dedication to our philosophy of
serving our tenants to the best of our ability and truly earning the moniker
'landlord of choice.' Brian has been an integral component in the development
of our team and we are as proud of our exceptional quality assets as we are
of having a team comprised of individuals with Brian's professionalism."
Prior to joining Reckson, Fitzsimons was a Vice President at Grubb & Ellis
Company and served as Director of Commercial Real Estate for Sutton & Edwards,
Inc. Throughout his career he has been responsible for the leasing and sales
of several million square feet of space-having represented tenants and owners
throughout the New York metropolitan area.
Brian received his Master of Science in Real Estate, Investment and Asset Management
from NYU and his BA in History and Political Science from Syracuse University.
He is a member of the National Association of Industrial and Office properties
(NAIOP), New Jersey chapter as well as a participant in CoreNet Global, New
Jersey Chapter.
Reckson Associates Realty Corp. is a self-administered and self-managed real
estate investment trust (REIT) specializing in the acquisition, leasing, financing,
management and development of Class A office properties.
Reckson's core growth strategy is focused on the markets surrounding and including
New York City. The Company is one of the largest publicly traded owners, managers
and developers of Class A office properties in the New York Tri-State area,
and wholly owns, has substantial interests in, or has under contract, a total
of 103 properties comprised of approximately 20.1 million square feet. For additional
information on Reckson Associates Realty Corp., please visit the Company's web
site at www.reckson.com.
Certain matters discussed herein, including guidance concerning the Company's
future performance, are "forward-looking statements" within the meaning
of the Private Securities Litigation Reform Act of 1995. Although the Company
believes the expectations reflected in such forward-looking statements are based
on reasonable assumptions, forward-looking statements are not guarantees of
results and no assurance can be given that the expected results will be delivered.
Such forward-looking statements are subject to certain risks, trends and uncertainties
that could cause actual results to differ materially from those expected. Among
those risks, trends and uncertainties are the general economic climate, including
the conditions affecting industries in which our principal tenants compete;
financial condition of our tenants; changes in the supply of and demand for
office properties in the New York Tri-State area; changes in interest rate levels;
changes in the Company's credit ratings; changes in the Company's cost of and
access to capital; downturns in rental rate levels in our markets and our ability
to lease or re-lease space in a timely manner at current or anticipated rental
rate levels; the availability of financing to us or our tenants; changes in
operating costs, including utility, real estate taxes, security and insurance
costs; repayment of debt owed to the Company by third parties; risks associated
with joint ventures; liability for uninsured losses or environmental matters;
and other risks associated with the development and acquisition of properties,
including risks that development may not be completed on schedule, that the
tenants will not take occupancy or pay rent, or that development or operating
costs may be greater than anticipated. For further information on factors that
could impact Reckson, reference is made to Reckson's filings with the Securities
and Exchange Commission. Reckson undertakes no responsibility to update or supplement
information contained in this press release.
Reckson Associates Realty Corp.
51 JFK Parkway
Short Hills, NJ 07078
(973) 313-3300 (Phone)
(973) 313-3301 (Facsimile)
Contact: Todd Rechler, Corporate
Senior VP and Managing Director of Reckson Associates' NJ division
Beckerman Public Relations
Contact: Stephanie W. Singer (Media)
(908) 781-6420 (Phone)
stephanie@beckermanpr.com (Email)
