follow us:Google+ FacebookLinkedInTwitterRSS Feeds

advertisement

Maersk sells Madison HQ for more than $53M

By

Back to Top Comments Email Print

Latest News

advertisement
2 Giralda Farms in Madison.
2 Giralda Farms in Madison. - (CBRE GROUP INC.)

Maersk Inc. has sold its former Madison headquarters building for more than $53 million to an investment firm that specializes in corporate properties, according to CBRE.

The 146,366-square-foot building, 2 Giralda Farms, was sold to American Realty Capital Global Trust Inc., according to a news release from CBRE. The property comes with a long-term lease to a new tenant after Maersk, the global shipping company, signed a lease earlier this year that moved its operation to nearby Florham Park.

CBRE brokers Jeffrey Dunne, Kevin Welsh, Brian Schulz, Frank Maresca and Alec Monaghan represented Maersk, the news release said. They also identified the buyer.

CBRE did not identify the new tenant in its news release, but previous published reports say pharmaceutical giant Merck signed a 150,000-square-foot lease at 2 Giralda Farms.

RELATED: Cushman & Wakefield: N.J. office market saw steady leasing activity in Q2

The property, which sits in the five-building Giralda Farms office park, was designed nearly 30 years ago as a build-to-suit for Maersk. The company’s new North American headquarters is at 180 Park Ave. in Florham Park.

American Realty Capital Global Trust specializes in corporate sale-leaseback deals involving single-tenant properties, according to its website.

ALSO ON NJBIZ:

Top 100 privately held companies announced by NJBIZ

Special Report: Millennials' Moment It's Their Time

BioNJ agrees with Christie that Rutgers-UMDNJ merger will be good for pharma business

Share This Story On:
Joshua Burd

Joshua Burd

Josh Burd covers real estate, economic development and sports and entertainment. Before joining NJBIZ in 2011, he spent four years as a metro reporter in Central Jersey. His email is joshb@njbiz.com and he is @JoshBurdNJ on Twitter.

advertisement

Comments


Be the first to comment.



Please note: All comments will be reviewed and may take up to 24 hours to appear on the site.

Post Comment
     View Comment Policy

Advanced search
Sponsored by
advertisement
  
  
advertisement
  
  
advertisement
Back to Top