Business & Tech
BP Lubricants' Wayne HQ Sold For $19.2M
The 100,000 square-foot building is on 10.2 acres. It is near another headquarters that was sold recently: Toys R Us'.
WAYNE, NJ — BP Lubricants' headquarters was recently sold for $19.2 million.
The 10.2-acre property at 1500 Valley Road was sold by a private investor to another private investor, Brian Hosey, vice president of Marcus & Milichap, confirmed.
BP Lubricants' 100,000-square-foot property houses lab technicians, engineers, analysts, managers, and corporate officers.
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Alan Cafiero, an investment specialist with Marcus & Milichap, represented the seller and buyer.
BP has a long-term lease to occupy the property, which will continue following the sale, Cafiero said.
Find out what's happening in Waynefor free with the latest updates from Patch.
It is the second headquarters of a major corporation in Wayne to be sold recently.
The former Toys R Us headquarters on nearby Geoffrey Way was sold to an unidentified buyer. The new owner plans to "enhance" the 191-acre campus for "multiple uses," according to CBRE Group Inc.
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