Marcus & Millichap sells BP’s Wayne HQ for $19.2M

Marcus & Millichap has completed the sale of BP Lubricants USA Inc.‘s headquarters in Wayne for $19.2 million, according to Brian C. Hosey, regional manager of the firm’s New Jersey office.

Alan Cafiero and Ben Sgambati, investment specialists at the same office, represented the seller, a private investor, and the buyer, also a private investor.

BP’s headquarters boasts 100,000 square feet and sits on 10.52 acres. BP has invested in the building as well, including renovations on the second and third floors, and expansions to its lab and testing operation spaces.

The property, located on Valley Road, is within close access to interstates 80 and 287, and Route 46.