MADISON, NJ — A multimillion-dollar capital improvement program at 7 Giralda Farms in Madison is paying off.
Bergman Real Estate Group and its leasing agent, Cushman & Wakefield, announced a flurry of leasing transactions in 2024, totaling 110,000 s/f in seven new leases of office space at 7 Giralda Farms. Pharmaceutical companies, healthcare consultants, and NJ law firms now call 7 Giralda Farms their new home.
“We were laser-focused on our capital improvement program, upgrading a host of amenities in order to attract the highest-quality tenants and we are proud to announce that we have met our goals. 7 Giralda Farms is one of those success stories,” said Michael Bergman, CEO and president of Bergman Real Estate Group. “Employers know that they need to offer a top-tier in-office experience to attract the best talent, and that’s what our investments have done.”
The major transactions in 2024 were led by three premier New Jersey law firms:
• Riker Danzig LLP, a 140-year-old full-service law firm signed for 45,500 square feet. Riker is relocating its headquarters from Morristown where they’ve been for the past 40+ years. Marc Rosenberg of Cushman & Wakefield represented the tenant.
• Saiber Law, a 75-year-old full-service NJ law firm coming from Florham Park, signed a new lease for 34,390 square feet. Richard Baumstein and Edward Duenas of Cushman & Wakefield represented Saiber.
• Kelley Drye & Warren LLP, one of the oldest law firms in the United States, is relocating from Parsippany and has committed to 17,260 s/f of new space at 7 Giralda Farms. Nick Savage and Greg Barkan of CBRE’s NJ office represented Kelley Drye.
“7 Giralda has great value, but it was Bergman Real Estate Group who had the resources and vision to acquire the asset, invest in the building, and remarket it to attract smaller and mid-size, high-quality tenants,” said Joshua Cohen, managing director of Cushman & Wakefield, the exclusive leasing agent for the building. “It is the strength of ownership, their tenure in the market, and Michael Bergman’s vision that proved to be a very successful formula for success.”
Several other companies have committed to building their firms at 7 Giralda Farms, including:
• Transcend Capital Advisors, LLC, (15,600 s/f), a private wealth management firm Jon Williams and Michael Nieliwodski of CBRE represented Transcend Capital Advisors.
• OrganOx Inc., (9,422 s/f), a global medical device company based in the U.K. OrganOx was represented by Mark Twentyman of Kingsbridge Realty Advisors.
• G&L Scientific Inc, (2,767 s/f), a medical and pharmaceutical consulting firm. G&L was represented by Bill Brown and Joshua Cohen of Cushman & Wakefield.
• Knack Pharmaceuticals, (2,121 s/f), a healthcare company that specializes in injectable medication. Chris Hovanec of Colliers International represented the tenant.
“7 Giralda is a quality building that has all of the amenities a tenant is looking for, thanks to the strength and the commitment of the owners,” said Bill Brown, executive director, Cushman & Wakefield.”
Bergman Real Estate Group and Eightfold Real Estate Capital acquired 7 Giralda Farms in July 2021. The 236,000 s/f, three-story, class A office building is located within the Giralda Farms Corporate Campus, a gated office park spanning 1.15 million s/f across 310 acres on the former Geraldine Rockefeller Dodge Estate.
“To attract the best talent in Northern NJ, you have to offer the best amenities, and 7 Giralda Farms lets tenants do just that,” Bergman said. “Combined with this building’s incredibly convenient location, we knew from the earliest days of this project that 7 Giralda Farms was a unique investment opportunity.”