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65 Challenger Road

Updated Dec 4, 2024

Lotte Wellfood Corporation Leases 4,000 SF Office Space At 65 Challenger Road, Ridgefield Park
LEASEDOffice

Lotte Wellfood Corporation Leases 4,000 SF Office Space At 65 Challenger Road, Ridgefield Park

65 Challenger Road

Building Size

4,000 SF

Asset Type

Office

Closing

Nov 10, 2023

About this deal

AI

Lotte Wellfood Corporation, an international confectionery firm, has leased approximately 4,000 square feet of office space at 65 Challenger Road in Ridgefield Park, New Jersey. The Class A office property is located in Ridgefield Park, offering a prime location for the tenant's operations.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: Not provided
  • Square Footage: 4,000
  • Address: 65 Challenger Road, Ridgefield Park, New Jersey
  • Market: Ridgefield Park

The lease transaction was facilitated by Cushman & Wakefield, a leading commercial real estate services firm. James Yamauchi and Junji Miyake, representing Cushman & Wakefield, played a key role in arranging the lease on behalf of Lotte Wellfood Corporation.

As an international confectionery firm, Lotte Wellfood Corporation sought a suitable office space for their operations in Ridgefield Park, and the lease of 65 Challenger Road met their requirements. With the assistance of Cushman & Wakefield, Lotte Wellfood Corporation secured a Class A office property with on-site amenities to support their business activities.

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Players

Junji Miyake

Cushman & Wakefield

Broker

$6.5M

vol

3 deals

Broker

Ridgefield Park Office Market Snapshot

Boundary boundary · Office · Lease transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

5.80%

Cash-on-Cash

-1.66%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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