South Korean consumer electronics giant Samsung has become the second major company in North Jersey in recent days to say it's moving its longtime headquarters.
The firm's U.S. operation, Samsung Electronics America, plans to relocate from 85 Challenger Road, Ridgefield Park, to an undisclosed location in Englewood Cliffs, New Jersey, next year. Samsung now leases about 232,000 square feet at the Challenger Road property, where it's been since 2010, according to CoStar data. Samsung's lease expires in September, according to CoStar.
Samsung didn't respond to an email from CoStar News. But the company provided a statement to multiple local news outlets about its relocation.
“The move marks an exciting new chapter, and we are proud to continue to operate in Bergen County,” Samsung's statement said.
The news came just days after it was disclosed that British consumer goods powerhouse Unilever was relocating its North American headquarters from 700 Sylvan Ave., Englewood Cliffs, to 111 River St., Hoboken, in spring 2025.
In 2019, Samsung extended its headquarters lease with its landlord then, KABR Group. In October 2020, the Challenger Road office property was sold for $59.7 million to Asia Investment Management, a South Korean company, according to CoStar data.