RIDGEFIELD PARK, NJ-Samsung Electronics America Inc. has moved into its 195,000-square-foot US headquarters at 85 Challenger Rd. here, marking the completion of an over $20-million retrofit at the class A office tower and presenting a leasing opportunity for the building’s remaining space. Commercial real estate services firm Cushman & Wakefield Inc. serves as the exclusive agent for the 235,000-square-foot property; KABR Real Estate Investment Partners owns the asset.
The recently completed improvements include a newly rebuilt lobby, a fitness center, and extensive landscaping. “Every piece of the building has been redone to Samsung’s and the landlord’s exacting standards,” says Cushman & Wakefield’s David DeMatteis, who is heading the leasing team with Marc Trevisan.
The firm is currently is marketing 28,000 square feet at 85 Challenger Rd. Units can be divided to 3,500 square feet. “Tenant space will be delivered in new condition at a rate about one-third lower than competing properties,” DeMatteis tells GlobeSt.com. He adds that companies “that desire to be in the Samsung halo have expressed interest.”
Part of the 60-acre Overpeck Centre, 85 Challenger Rd. has direct access to I-95/NJ Turnpike, Route 46 and I-80, and is proximate to the George Washington Bridge, Lincoln Tunnel and Newark Airport. The building offers a public bus stop across the street, with service to the NYC Port Authority Terminal and many towns throughout Bergen County.
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