Kelley Drye & Warren LLP Leases 17260 SF Office Space At Giralda Farms In Madison NJ
7 Giralda Farms
Building Size
17,260 SF
Asset Type
Office
Closing
Feb 25, 2025
AI
The property asset involved in this transaction is an office space located at 7 Giralda Farms in Madison, NJ, with a total area of 17,260 square feet. The transaction is categorized as a lease.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not specified
- Address: 7 Giralda Farms, Madison, NJ
- Market: Madison
- Landlord: Michael Bergman - Bergman Real Estate Group; Eightfold Real Estate Capital
- Tenant: Kelley Drye & Warren LLP
- Landlord's Representative: Joshua Cohen & William Brown - Cushman & Wakefield
- Tenant's Representative: Gregory Barkan & Nick Savage - CBRE
This lease transaction involved Kelley Drye & Warren LLP relocating from Parsippany to the new office space. The negotiation for the lease was facilitated by Cushman & Wakefield representing the landlord, while CBRE acted on behalf of the tenant.
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