CBRE announces the sale of the former Toys “R” Us corporate 621,000 square foot headquarters at One Geoffrey Way in Wayne. The buyer has plans to enhance the site for multiple uses.
CBRE’s Jeffrey Babikian, Robert L’Abbate, Allyson L’Abbate, Nor Ramos and Brian Godau represented the seller, Toys “R” Us Property Company I, LLC, and Raider Hill Advisors, a private real estate investment and advisory firm, acting on behalf of the toy company.
Situated on ±191 acres overlooking a scenic lake-like reservoir, One Geoffrey Way housed the Toys “R” Us headquarters for 16 years. The world-class facility consists of two interconnected Class A office buildings totaling approximately 621,000 sq. ft. The complex, which was built in 1962 and served as the original headquarters for American Cyanamid, was completely renovated into a state-of-the-art facility when Toys “R” Us took occupancy.
“The chance to own a site like One Geoffrey Way does not come around often,” notes Babikian, executive vice president. “Not only is the new ownership securing a world-class office complex, but also a one-of-a-kind development opportunity to enhance a site that offers a beautiful campus-like setting with a scenic view and numerous amenities not to mention proximity to New York City.”
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