Updated Oct 12, 2026
Bergman Real Estate Group Acquires Office Building In Madison, NJ For $29M
7 Giralda Farms, Madison, NJ 07940, USA
$29,000,000
$122/SF
Building Size
236,809 SF
Asset Type
Office
Closing
Aug 5, 2020
About this deal
AI
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.
On the Map
$29,000,000
$122/SF
Office
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Players
Madison Office Market Snapshot
Boundary boundary · Office · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.55%
Cash-on-Cash
-0.16%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93