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Maersk sells Madison HQ for more than $53M

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2 Giralda Farms in Madison.
2 Giralda Farms in Madison. - ()

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.


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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. Email him at joshb@njbiz.com.

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