Bergman Real Estate Group Acquires Office Building In Madison, NJ For $29M

Located at 7 Giralda Farms in Madison, NJ, this recent closed transaction involved the sale of an office property. The property spans a total of 236,800 square feet, and the sale price amounted to $29,000,000. With a price per square foot of $122, this transaction marks a significant deal in the local market.

Summary of transaction details

• Property Type: Office
• Transaction Amount: $29,000,000
• Address: 7 Giralda Farms, Madison, NJ
• Total Square Footage: 236,800 SF
• Price per Square Foot: $122

The buyer in this transaction was Bergman Real Estate Group, represented by Michael Bergman. On the other hand, the seller was Mack-Cali Realty Corp, with Mahbod Nia as their representative. The deal was facilitated by brokers Mitchell Berkey and Joseph Zawila from Chiesa Shahinian and Giantomasi PC.

Shem Creek Capital, led by Scott Goldberg, provided the necessary financing for this transaction. The mortgage brokers involved were Michael Klein, Greg Nalbandian, and Gerald Quinn from JLL.