Kevin Welsh, first vice president, along with senior associate John Oh and sales assistant Robert Ryan of CB Richard Ellis, Paramus, NJ, represented Samsung in the transaction. The Chatham, NJ office of the Archon Group, owner of the property, was represented in-house by Fred Arena, the company's director of real estate and regional director of management. The terms of the deal were not disclosed.
The 105 Challenger Rd. property is a 150,000-sf, nine-story class A office building located at the northeast quadrant of the intersection of I-95, I-80 and Route 46 in North Jersey's Bergen County. Chase Mellon occupies the rest of the building, according to Arena. "We are currently experiencing a high rate of tenant retention in our facilities throughout the region," says Arena.
The Archon Group was formed by Goldman Sachs in 1996 when it acquired and consolidated the investment, asset management and development functions previously performed by third parties for a variety of private and institutional owners.
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