One Geoffrey Way in Wayne — Courtesy: Dobco Inc.
By Joshua Burd
The new owner of the former Toys R Us headquarters in Wayne has tapped JLL to market the property, seeking a mixed-use, multitenant approach as it repositions the campus.
Brokers with JLL are now working on behalf of Dobco Inc. as the leasing agent for One Geoffrey Way, a distinctive, 630,000-square-foot complex east of Route 202. The owner, a locally based general contractor, is looking to transform the three-building campus into a site that includes Class A office, flex and retail space.
JLL Executive Managing Director Frank D. Recine, Executive Vice President Christopher DeLorenzo and Senior Vice President Brendan McBride will oversee the leasing assignment. The team has partnered with Brian S. Silbert, CEO and president, and David Greenman, senior vice president of the retail service group, of Silbert Realty & Management Co. Inc. to assist with marketing and leasing the retail portion of the development.
“The complex at One Geoffrey Way is a world-class facility with a great story,” Recine said. “We have been engaged to breathe life back into what was once an iconic and bustling office complex in northern New Jersey. The property features architecturally distinctive buildings in an attractive suburban setting. When Dobco’s vision for the complex is fully realized, this complex will provide the community with a highly amenitized and modern experience.”
Dobco acquired the 191-acre campus early last year, following Toys R Us’ bankruptcy and liquidation. The complex, which was built in 1962 and served as the original headquarters for American Cyanamid, was completely renovated when the iconic retailer took occupancy.
In a news release, JLL noted that the complex is comprised of two interconnected office buildings totaling some 575,000 square feet and one single-story flex building of about 55,000 square feet. The five-story Main Building totals 415,000 square feet and offers large and efficient floorplates, following the contours of the shoreline of the adjacent Point View Reservoir.
The six-story, 160,000-square-foot Terrace Building is one of the most architecturally distinct buildings on the site, JLL said, citing a midcentury, modern feel, with stacked floorplates that create several outdoor terraces.