Financial services firm ASTOne has leased a new 45,000 square-foot space at a Ridgefield Park office building owned by KABR Group and Kushner Cos., according to the companies involved with the deal.
The firm, an arm of American Stock Transfer & Trust Co. LLC, is moving from another site in northern New Jersey to 55 Challenger Road. The new building is located in the Overpeck Centre office park, just off the New Jersey Turnpike.
"The new office space is the next logical step in the evolution of ASTOne," Paul Torre, executive vice president of ASTOne, said in a prepared statement. "The facility will provide greater capacity for integrated job flow and contact center volumes, expanding our ability to deliver quality service to clients."
It's the latest move in Ridgefield Park for KABR since acquiring four buildings there over nearly four years. Its first deal in Overpeck Centre came in 2009 with 85 Challenger Road, a 235,000-square-foot building that was vacant and overleveraged when the firm acquired it for less than one-third of its assessed value, and later became the U.S. headquarters for Samsung.
KABR later acquired 55, 65 and 100 Challenger Road.
KABR Chief Executive Laurence Rappaport said his firm's "value-oriented approach of acquiring world class properties and successfully repositioning to the needs of today's discerning customer provides the perfect win-win for KABR/Kushner and AST."
Jeremy Neuer, Don Sperling and Robert Norton of CBRE represented KABR and Kushner, while David Sherman and Slava Vaynberg of Cushman & Wakefield represented AST.
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