The Birch Group Purchases NJ Office Asset

RIDGEFIELD PARK, NJ – The Birch Group has purchased the 269,720-square-foot, class A, office property, 55 Challenger Rd, in Ridgefield Park, NJ.

Cushman & Wakefield arranged the sale on behalf of the seller.

Situated within the 60-acre, mixed-use development, Overpeck Corporate Center, 55 Challenger Rd offers a full amenity package, including a fitness center, covered parking garage, full service cafeteria, conference center, 24/7 security and onsite management.

The seller recently executed long-term leases at the property to tenants, such as Seeger Weiss and Kumon, which will utilize the space for its North American headquarters.

“We approached this acquisition with the goal of diversifying our portfolio by adding an excellent asset with a strong tenant roster and upside potential,” says Mark Meisner, president of the Birch Group.

Cushman & Wakefield’s David Bernhaut represented the seller and procured the buyer in the transaction, alongside the firm’s New Jersey capital markets team, including Andrew Merin, Gary Gabriel, Brian Whitmer, Kyle Schmidt and Ryan Larkin.

Cushman & Wakefield leasing specialists, William O’Keefe and Kelsey Nakamura supported the assignment as exclusive leasing agents for the office property.

“This asset offered everything that a forward-looking owner like the Birch Group appreciates in an investment opportunity,” states Bernhaut. “The tenants in place have long-term leases that provide stability and predictable cash flow, which is reflective of the significant capital improvements and aggressive lease-up strategy made by KABR and Kushner.”

This transaction follows the Birch Group’s recent acquisition of a 228,000-square-foot, trophy office asset in New Jersey; purchased in partnership with Vision Properties.