Riker Danzig LLP Leases 45500 Square Feet At 7 Giralda Farms In Madison, NJ
7 Giralda Farms
Building Size
45,500 SF
Asset Type
Office
Closing
Feb 21, 2025
AI
The lease involves a 45,500-square-foot office space located at 7 Giralda Farms in Madison, NJ. The asset is situated in a competitive market, and the transaction marks a significant relocation for the tenant from Morristown.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not disclosed
- Address: 7 Giralda Farms
- Market: Madison
- Landlord: Michael Bergman - Bergman Real Estate Group; Eightfold Real Estate Capital
- Tenant: Michael P. O'Mullan - Riker Danzig LLP
- Brokers: Joshua Cohen, Marc Rosenberg & William Brown - Cushman & Wakefield
Marc Rosenberg represented the tenant Riker Danzig LLP, while Joshua Cohen and William Brown represented the landlords, which consist of a partnership between Bergman Real Estate Group and Eightfold Real Estate Capital.
Players
Madison Office Market Snapshot
Boundary boundary · Office · Lease transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93