Bergman Real Estate Group has announced that 7 Giralda Farms, a 238,000-square-foot Class A office building in Madison, has reached 100% occupancy.
The milestone follows a successful five-year repositioning campaign that began when Bergman, in a joint venture with Eightfold Real Estate Capital, acquired the property in July 2021 at roughly 60% occupancy. The final push to full occupancy was driven by two recent pharmaceutical transactions: a long-term lease renewal by LEO Pharma for approximately 33,000 square feet and a new 7,736-square-foot lease with Spanish pharmaceutical firm Esteve Pharmaceuticals.
Working alongside exclusive leasing agents Bill Brown, Joshua Cohen, and Heather Polhamus of Cushman & Wakefield, ownership executed 18 leases totaling approximately 222,000 square feet. The property has successfully attracted a prominent roster of tenants spanning the pharmaceutical, wealth management, and legal sectors—including major law firms Riker Danzig, Saiber, Kelley Drye & Warren, and Wilson Elser.
Upon acquiring the asset, Bergman launched a comprehensive capital improvement program designed by Studio 1200. The multi-million-dollar modernization transformed the three-story building’s common areas, introducing a renovated two-story atrium lobby, an upgraded cafeteria and fitness center, a high-tech conference and training center, yoga and game rooms, indoor-outdoor gathering areas, and an on-site nine-hole disc golf course across the 20-acre landscaped grounds.
“From the moment we acquired 7 Giralda Farms, we believed in the property’s potential,” Michael Bergman, president and CEO of Bergman Real Estate Group said. “We knew that with the right capital investment, strong ownership, an experienced leasing agent and a focused leasing strategy, 7 Giralda could distinguish itself in the market as a best-in-class office building. Reaching 100% occupancy speaks to the strength of that vision and the invaluable partnership we’ve had with our investor partner, Eightfold Real Estate Capital, Cushman & Wakefield, and our lender, Shem Creek Capital.”
Located within the gated 310-acre Giralda Farms Corporate Campus—set on the historic Geraldine Rockefeller Dodge Estate—the property offers full under-building parking and convenient proximity to downtown Madison and Morristown, as well as major regional arteries including Route 24, I-287, I-80, and I-78.
“For years, we’ve always talked about a flight to quality,” noted Bill Brown, executive director at Cushman & Wakefield. “Candidly, since 2022, when interest rates spiked, it’s become a flight to capital for tenants seeking landlords that have the capital, experience and professionalism to perform. And in this ownership group, Bergman Real Estate Group and Eightfold Capital clearly demonstrated they had the ability to perform.”
