C&W Orchestrates 45,000-Sq.-Ft. Lease for AST in Ridgefield Park
Consulting Division's N.J. Headquarters to Relocate to KABR/Kushner Building.
- Bergen-Passaic, NJ (1888PressRelease) June 05, 2014 - A 45,000-square-foot office commitment by ASTOneTM at 55 Challenger Road in Ridgefield Park marks the culmination of a two-year site search for the American Stock Transfer & Trust Company, LLC (AST) division. 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 Lyndhurst.
Cushman & Wakefield's Slava Vaynberg, David Sherman and Marc Trevisan, based in East Rutherford, N.J., represented AST nationally. ASTOne will nearly double its Meadowlands operation in the move to 55 Challenger Road. Owned by a joint venture of KABR and Kushner Companies, the 295,000-square-foot, Class A office building is located in Overpeck Corporate Centre. CBRE's Jeremy Neuer, Robert Norton and Donald Sperling served as landlord representative.
Brooklyn-based AST is a stock transfer agent that provides exchange listings, dividend issuance, employee stock options and other financial services for public companies and personal investors. As its consulting division, ASTOneTM integrates proxy solicitation, investor relations and corporate governance services; AST is the only transfer agent providing issuers and shareholders with these integrated functions at an operational level.
"Our client required a technology-oriented building with tremendous infrastructure," Vaynberg noted. "Finding a property with ample watts per square foot, backup power, a raised floor data center, and parking and access for a three-shift, 24/7 operation was challenging. We conducted an extensive market search, and this property ultimately provided an ideal match." Vaynberg added that 55 Challenger Road also offers room for expansion for ASTOne, 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," noted 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 agreement, KABR/Kushner agreed to expedite plans for a new building cafeteria, fitness center and generator. Vaynberg credited the transaction's successful outcome to the company's flexibility and accommodation. With frontage on the New Jersey Turnpike, 55 Challenger Road offers easy access to Manhattan via the Lincoln Tunnel and George Washington Bridge.
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