Challenger sale done deal.Archon Group, L.P. announced the sale of 105 Challenger Road in Ridgefield Park Ridgefield Park, village (1990 pop. 12,454), Bergen co., NE N.J., on the Hackensack River; inc. 1892. Chiefly residential, it manufactures some paper goods. , N.J. to the Gale Company. Fred Arena and Sam Morreale, both regional directors, and John McNamara There are different people named John McNamara:
Cushman & Wakefield served as broker for The Archon Group in the transaction. "We are pleased to have consummated the sale of 105 Challenger Road," said Morreale. "This sale reflects the culmination of our value-creation cycle for this asset. 105 Challenger Road was originally acquired by an Archon subsidiary and subsequently fully leased to Samsung. With investment sales product in extraordinary demand, this sale to The Gale Company enables Archon to achieve all of our investment objectives," Arena added. John McNamara said, "Our team was able to achieve our value-creation objectives at 105 Challenger Road--to acquire the asset, redevelop re·de·vel·op v. re·de·vel·oped, re·de·vel·op·ing, re·de·vel·ops v.tr. 1. To develop (something) again. 2. it, secure a full building user and sell it at a record market price." 105 Challenger Road is situated in a prestigious campus setting, located at the northeast quadrant quadrant, in analytic geometry quadrant. 1 In analytic geometry, one of the four regions of the plane determined by two lines, the x-axis and the y-axis. of the intersection of I-95/I-80 and Route 46. The nine-story, 150,000 s/f, class A office building offers a full-service cafeteria cafeteria: see restaurant. , loading docks and storage facility. Samsung occupies the balance of the building. |
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