In November 2013, GAF, North America’s largest manufacturer of commercial and residential roofing, purchased the former Realogy headquarters property at 1 Campus Drive in Parsippany and invested approximately $50 million in transforming the facility into the company’s new corporate home. That move alone demonstrated strong interest in the suburban real estate market, where vacancy rates in many communities are as high as 30 percent.
“When Realogy announced it would leave its 1 Campus Drive building, our community was concerned that we were adding another vacant office building to our inventory,” recalled Paul Boudreau, president of the Morris County Chamber of Commerce. “In fact, several commercial real estate companies told me it would be difficult to find a new tenant for this property. That would have meant another reduction in our property tax base and hundreds of fewer employees visiting local retailers.”
But that concern proved short-lived, with GAF deciding that 1 Campus Drive would be the ideal property for its new headquarters. Located just off Route 10, within a mile of Interstate 287 and just a few miles from the intersections of Interstates 80 and 287 and Route 24, the location is easily accessible and aesthetic.
With 165 workers on site daily, the 32-week construction program involved completely gutting the building and creating a modern, collaborative work environment. The project is awaiting LEED certification.
GAF came to Morris County with a strong commitment to the success of its customers, employees and the community. It has joined the Morris County Chamber of Commerce and its Morris Business Cabinet, a group of Fortune 500 companies in the county that provide leadership and financial support for the Chamber. The company is a corporate sponsor of Habitat for Humanity, the US Green Building Council and GAF’s Roofs for Troops program that honors active US military, veterans and retirees.
New York, NY
Turner Construction Company
Morris County Chamber of Commerce