In August 2021, it was reported that Mack-Cali sold 7 Giralda Farms, a three story office building on 20 acres of landscaped grounds in Madison, New Jersey. However, Real Estate Weekly reports that this was not the Giralda asset sold, with 1 Giralda being sold to a partnership that included Axonic Capital.
“In April, 2021, it sold 51, 101, 103 and 150 JFK Parkway in Short Hills to The Birch Group for $255 million,” writes the publication. “A partnership of Pentaurus and Lord Fisher Capital acquired the vacant 141,000 s/f property, 3 Giralda Farms for $7.9 million last summer. 1 Giralda was sold to a partnership between Onyx Equities, Taconic Capital Advisors, Axonic Capital and Machine Investment Group as part of a 10-building portfolio sale that netted Mack-Cali $158 million.”