Lord Fisher Capital and Pentaurus Properties are planning a multimillion-dollar renovation of 3 Giralda Farms, a 141,000-square-foot building in Madison, as depicted in this rendering. — Renderings by Gensler/Courtesy: JLL
By Joshua Burd
A joint venture has unveiled its multimillion-dollar plan to renovate a piece of the acclaimed Giralda Farms office campus, while tapping JLL to market the 141,000-square-foot property.
The partners, Lord Fisher Capital and Pentaurus Properties, purchased 3 Giralda Farms in Madison in August 2020. They have since hired Gensler to redesign the 1990s-era property off Route 124, seeking to update its double-height glass atrium, upgrade its existing amenities, overhaul the building’s infrastructure and add parking capacity.
“3 Giralda Farms has enjoyed a storied past as a landmark property,” said Brandon Rolnick, a managing member of Lord Fisher Capital. “We are thrilled to embark on this modernization to create a model facility that will appeal to forward-thinking companies seeking suburban office space with the type of urban characteristics that make 3 Giralda stand out as the premier asset in the region.”
JLL Managing Director David Stifelman and Associate Vice President Mike Pietrowicz are partnering on the leasing assignment with support from Tim Greiner, JLL New Jersey’s office agency broker lead. According to Stifelman, interest is already building among users attracted to the property’s location between the downtowns of Madison and Morristown, as well as the newly revealed renovation plans.
“3 Giralda Farms, an iconic building in an extraordinary location, is receiving the best new start imaginable,” Greiner said. “With work now underway, we are excited by the interest we are already seeing from building users seeking a headquarters presence in a newly renovated property with an unrivalled location.”
As part of the renovation, Lord Fisher and Pentaurus plan to build a new staircase that will connect the atrium to the visitor lobby, according to a news release. They’re also slated to expand the outdoor patio to include entertainment and collaboration space, while incorporating amenities throughout the backyard.
Additionally, ownership will update 3 Giralda’s full-service café, conference center and fitness center. Infrastructure upgrades will include HVAC systems with MERV-13 filtration, new mechanical and building management systems and the construction of a 220-space, bi-level parking garage with a green roof and landscaping.
“Tenants continue to demand quality in the workplace and seek a modern, amenity-rich building,” said Dana Nalbantian, a Morristown-based principal with Gensler. “With an iconic property like 3 Giralda Farms, our focus is on respecting the past while looking to the future with the kind of building amenity design that complements a company’s culture to inspire and enrich their employee workplace experience.”
Once part of the Geraldine R. Dodge estate, the 310-acre Giralda Farms property adjoins the Loantaka Brook Reservation, an 883-acre recreational park with 10 miles of hiking trails and immediate access to a host of outdoor activities. Its location off Route 124 provides it with quick access to Interstate 287 and Route 24, a perk that has drawn other blue-chip corporations to the area.
“The area provides employers access to highly educated, skilled labor, along with a growing millennial population,” Pietrowicz said. “Its connectivity to New York, and proximity to highways and airports, makes it one of the most convenient locations for employers and employees in the region.”