Bergman acquires 7 Giralda Farms office bldg. in Madison
- MAREJ
- Sep 7, 2021
- 2 min read
MADISON, NJ — Bergman Real Estate Group announced the acquisition of 7 Giralda Farms in Madison, a three-story, class A office building comprising 236,800 s/f across 20 acres of meticulously landscaped grounds.
The acquisition is a joint venture between Bergman and Eightfold Capital. The partnership acquired the building from Mack-Cali, making this Bergman’s fourth acquisition from the commercial REIT. Bergman was represented by Mitchell Berkey and Joseph Zawila of the law firm Chiesa, Shahinian and Giantomasi PC (CSG). Acquisition financing made by Scott Goldberg of Shem Creek Capital was arranged by JLL’s New Jersey Capital Markets team of Michael Klein, Greg Nalbandian and Gerald Quinn.
Developed in 2000, 7 Giralda Farms is one of seven buildings within the 1.15 million s/f Giralda Farms Corporate Campus, a gated 310-acre office campus set on the former Geraldine Rockefeller Dodge Estate.
“We are very excited about this newest addition to our portfolio,” said Michael Bergman, president and CEO of Bergman Real Estate Group. “7 Giralda is a quality asset situated in one of the most beautiful office settings you will find in all of New Jersey. What we really like are the flexible floor plates that can accommodate large users as well as smaller to medium tenants, making this one of the first true multi-tenanted buildings within the Giralda Farms campus.”
Bergman has plans to further improve the building through a $3.6 million capital improvement program to upgrade all common areas, including the lobbies, restrooms, café and fitness center, as well as to bring new amenities to the property. These include: 1) an executive lounge with comfortable seating, collaboration and entertainment areas; 2) a state-of-the art conference and training center; 3) coworking offices; 4) hospitality-style outdoor seating areas; and 5) outdoor recreational facilities such as Bergman’s Bike Share program and other fun and healthy activities for employees to take advantage of the great outdoor spaces at 7 Giralda.
