14B — July 11 - 24, 2014 — New Jersey — M id A tlantic
Real Estate Journal
www.marejournal.com
N ew J ersey
UPCOMING NEW JERSEY SPOTLIGHTS!
R Neuer, Norton&Sperling of CBRE represent landlord C&W orchestrates 45,000 s/f leaseforASTinRidgefieldPark
IDGEFIELD PARK, NJ — A 45,000 s/f of- fice commitment by ASTOne at 55 Challenger Rd. in Ridgefield Park marks the culmination of a two-year site search for the Ameri- can Stock Transfer & Trust Company, LLC (AST) divi- sion. Commercial real estate services firm Cushman & Wakefield represented the tenant in the long-term New Jersey headquarters lease; ASTOne will relocate to the building from nearby Lynd- hurst. Cushman & Wakefield’s Slava Vaynberg , David
August 15 CENTRAL NEW JERSEY DEADLINE: July 25
September 12 NORTHERN NEW JERSEY DEADLINE: Aug. 29
SUBMIT ARTWORK AND EDITORIAL TODAY! EMAIL LCHRISTMAN@MAREJOURNAL.COM
55 Challenger Road
Sherman and Marc Trev- isan , based in East Ruther- ford, NJ, represented AST na- tionally. ASTOne will nearly double its Meadowlands oper- ation in the move to 55 Chal- lenger Rd. Owned by a joint venture of KABR and Kush- ner Companies, the 295,000 s/f, class A office building is located in Overpeck Corpo- rate Centre. CBRE ’s J eremy Neuer , Robert Norton and Donald Sperling served as landlord representative. “Our client required a tech- nology-oriented building with tremendous infrastructure,” Vaynberg said. “Finding a property with ample watts per square foot, backup pow- er, a raised floor data center, and parking and access for a three-shift, 24/7 operation was challenging. We con- ducted an extensive market search, and this property ultimately provided an ideal match.” Vaynberg added that 55 Challenger Rd. also offers room for expansion for AS- TOne, which is among AST’s fastest-growing subsidiaries. “We relied on Cushman & Wakefield’s vast expertise to deliver a facility that supports our business strategy,” said AST’s senior vice president John Torres. “We appreciated the dedication shown by the team to ensure the right fit for our organization.” As part of the lease agree- ment, KABR/Kushner agreed to expedite plans for a new building cafeteria, fitness cen- ter and generator. Vaynberg credited the transaction’s successful outcome to the company’s flexibility and ac- commodation. With frontage on the New Jersey Tpke, 55 Challenger Rd. offers easy access to Manhattan via the Lincoln Tunnel and George Washington Bridge. n
Eastern Union Arranged Financing For
Mount Vernon Hotel Baltimore, MD
• Renovation loan plus permanent financing. • 300 basis points over 30-day labor • Virginia Heritage Bank funded $13,965,824 • Loan services 80% of both purchase and renovation price. $13,965,824 The new ownership plans to renovate and transform the Mount Vernon Hotel into a 170-room Hotel Indigo®
Negotiated by MarcTropp 347-678-8491 Senior Managing Director Barry Dollman 202-617-3133 Director of Underwriting
Made with FlippingBook - Online Brochure Maker