12B — September 11 - 24, 2015 — New Jersey — M id A tlantic
Real Estate Journal
www.marejournal.com
N orthern N ew J ersey Project raises the roof of the recently-acquired 202,000 s/f industrial building Tulfra Real Estate and Hampshire Companies tops out Clifton’s 65 Industrial Street South C LIFTON, NJ — Tul- fra Real Estate has topped out 65 Industrial
building with the goal of repositioning the prime, well- located property for single- tenant use. The 202,000 s/f building also includes 28,000 s/f of built-out office space. “We will also be adding new exterior skin and a full range of contemporary amenities as part of that reposition- ing,” said Sonny Jumani , president and partner of Tulfra Real Estate, one of Northern New Jersey’s lead- ing developers, owners, and managers of industrial build- ings, land, and industrial condominiums. “The project
St. South in Clifton, rais- ing the roof to a 27-foot clear height as part of a $10 million upgrade of t he he ad - q u a r t e r s -
Sonny Jumani
quality industrial building. Tulfra Real Estate and Mor- ristown, NJ-based Hamp- shire Companies recently acquired the former Glaxo
65 Industrial Street South
will make the property ex- tremely functional and ap- pealing in a Meadowlands
submarket with very little competition for facilities in that size range.”
Constructed in 1956, the class A, single-story building previously underwent reno- vations in 2014. It occupies 11 acres and has access to Route 3, the New Jersey Turnpike and Garden State Parkway. The Lincoln Tunnel, provid- ing access to New York City, is just 12 miles away. Its infrastructure includes five MW of power, with a PSEG substation nearby, as well as 16 loading docks and 200 parking spaces. “The significant built-out office component enhances 65 Industrial Street South’s appeal as an industrial head- quarters,” said Lloyd Tulp , managing member of Tulfra Real Estate. “The site is ideal for food manufacturing and distribution, as well as tech- nology and related manufac- turing. Topping out the build- ing to the new clear ceiling height is an important step in the process of re-tenanting the site.” “The New Jersey industrial real estate market remains exceptionally strong, and we saw this acquisition and repositioning as an important opportunity,” said Tulp. “We are currently marketing 65 Industrial Street South for lease or sale, and anticipate substantial interest in this availability. “In that market, we buy sites that demand ‘impossible’ solutions, including complex environmental and financial issues,” said Tulp. “And we design our projects with the latest in design and composi- tion, including manufacturing efficiencies and lower operat- ing costs, to give our customers a competitive edge. “When we see a property, we see more than square feet,” he said. “We see possibilities, utilizing a full complement of turnkey best-in-class so- lutions that solve business problems.” n
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