CBRE has arranged the sale of the 621,000-square-foot former Toys R Us corporate headquarters in Wayne, the company announced Monday.
Situated on about 191 acres, One Geoffrey Way housed the Toys R Us headquarters for 16 years. The buyer has plans to enhance the site for multiple uses, CBRE said.
CBRE’s Jeffrey Babikian, Robert L’Abbate, Allyson L’Abbate, Nor Ramos and Brian Godau represented the seller, Toys R Us Property Co. I LLC, and private real estate investment and advisory firm Raider Hill Advisors, acting on behalf of the toy company.
The property consists of two interconnected Class A office buildings. The complex, built in 1962, served as the original headquarters for American Cyanamid and was completely renovated when Toys R Us took occupancy.
“The chance to own a site like One Geoffrey Way does not come around often,” CBRE Executive Vice President Babikian said in a prepared statement. “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.”