JLL completes sale of 146K SF headquarters building in Madison, NJ

MORRISTOWN, N.J., Oct. 24, 2025 -  JLL Capital Markets announced today the sale of 2 Giralda Farms, a 146,366-square-foot Class A office building in Madison, New Jersey.

JLL represented the institutional seller in the sale, as well as the buyer, GGG Realty Holdings LLC, a subsidiary of Gellert Global Group (GGG). The acquisition marks a strategic consolidation as GGG establishes its new corporate headquarters to support continued growth across its North American food importing operations. GGG was represented by David Stifelman, Senior Managing Director, in the sale.

"This acquisition supports GGG's growth objectives," said CEO Andrew Gellert. "Bringing operations together encourages collaboration and entrepreneurship, while the facility's location and amenities are well-suited to our expansion."

The four-story building, constructed in 2001, served as the former United States headquarters for global shipping giant Maersk before being leased by pharmaceutical company Merck through mid-2025.

Located within the prestigious 181-acre Giralda Farms campus, the property offers extensive amenities, including a fitness center, sample kitchen, cafeteria area with indoor and outdoor seating areas, conference center with auditorium and boardroom, make this an ideal location for GGG. A covered, below-grade parking garage provides 369 spaces, with an additional six surface spaces for a total of 375 parking spaces.

Giralda Farms' setting adjacent to the 883-acre Loantaka Brook Reservation provides a park-like environment just minutes from downtown Madison and Morristown. The location offers convenient access to Morris County's highly educated workforce and proximity to Drew University and Fairleigh Dickinson University talent pools.

JLL Capital Market's Investment Sales and Advisory team, representing the seller, was led by Senior Managing Directors Jeremy Neuer and Jose Cruz and Senior Director Ryan Robertson, in conjunction with Tim Greiner, Executive Managing Director, and Mike Pietrowicz, Senior Vice President.

"The Morris County office market continues to attract corporate users seeking high-quality suburban locations with superior transportation access and amenity packages," said Neuer. "The Giralda Farms campus has long been recognized as one of New Jersey's premier corporate addresses, combining modern office infrastructure with an exceptional natural setting."

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients - whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.

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