Multimillion-dollar repositioning coming to 3 Giralda Farms (slideshow)

Jessica Perry//March 4, 2022

Multimillion-dollar repositioning coming to 3 Giralda Farms (slideshow)

Jessica Perry//March 4, 2022

Big changes are coming to the 141,000-square-foot former headquarters of Quest Diagnostics at the storied Giralda Farms campus in Madison.

Joint venture partners Lord Fisher Capital and Pentaurus Properties are revealing the first look at their repositioning of 3 Giralda Farms, where the real estate companies have retained JLL as exclusive leasing agent for the four-story Class A corporate headquarters.

JLL made the announcement March 3.

“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,” Lord Fisher Capital Managing Member Brandon Rolnick said in a statement.

According to JLL Managing Director David Stifelman, interest in the property is already buzzing due to the impending changes and its location between the bustling downtowns of Madison and Morristown.

Stifelman is partnering on the 3 Giralda Farms assignment with Associate Vice President Mike Pietrowicz with support Tim Greiner, JLL New Jersey’s office agency broker lead, who said that work is already underway at the property.

“3 Giralda Farms, an iconic building in an extraordinary location, is receiving the best new start imaginable,” Greiner said.

Big changes

Gensler has been enlisted to revamp the 1990s-era property, which will include opening up outdated floorplans, renovating the façade and entryway and improving amenities.

“Tenants continue to demand quality in the workplace and seek a modern, amenity-rich building,” said Gensler Principal Dana Nalbantian. “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.”

The multimillion project will modernize the double-height glass atrium and connect it to the visitor lobby via a new executive staircase, JLL said. A backyard patio will expand its footprint to accommodate entertainment and collaborative space, while additional amenities will be incorporated throughout the exterior. Existing amenities at 3 Giralda Farms will also get upgrades, including its full-service café, and conference and fitness centers.

The building infrastructure will also be enhanced, including upgraded HVAC systems, all new mechanical and building management systems and the addition of a bi-level parking garage with 220 spaces and green roof landscaping.

Lord Fisher Capital and Pentaurus Properties acquired 3 Giralda Farms in August 2020, marking their first joint venture in Morris County, according to JLL. The campus, once part of the late Geraldine Rockefeller Dodge estate, boasts 310 acres adjacent to the 883-acre Loantaka Brook Reservation.

Recently, a number of companies have announced plans to relocate to Morris County, including Deloitte and Valley National Bank. Both will take up residence in nearby Morristown, the former at the forthcoming M Station, and the latter at a new development coming to Speedwell Avenue that is slated to begin construction this spring.

“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.”

Together, Lord Fisher Capital and Pentaurus Properties own and manage commercial buildings in North Jersey and southern Florida with a combined asset value of more than $550 million, JLL said, and a team of 50 employees.