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M id A tlantic Real Estate Journal — Northern New Jersey — September 11 - 24, 2020 — 7B


Property is second Tulfra-built self storage acquired by Columbia Storage Group Tulfra Real Estate closes sale of 10 Kingsland Road, Clifton for $24.25 million C

with a television. Designed by Nastasi Ar- chitects in Hoboken, 475 William St. invokes modern elements with subtle historic characteristics that appeal to today’s tenant base. It is a five- minute walk to Brick Church Train Station offering direct rail service to NYC. Situated within East Orange’s Central Business District, the property is one block fromMain Street’s local, regional, and national retailers. These include Shop- Rite, Walgreens Pharmacy, Rita’s Italian Ice, Domino’s Pizza and Investors Bank. “We are extremely excited to approach the completion of our first joint-venture multifamily development project under the newly formed PEEK Proper- ties entity and are eagerly looking forward to the lease-up process this fall,” said PEEK managing partner Phillip Evanski , who noted applica- tions will start to be accepted in early October. MAREJ The brokers on both trans- actions were Kevin Welsh, Brian Schulz , and Ja- son Emrani of Newmark Knight Frank . MAREJ nicipalities, The land was vacant for over a decade prior to Tulfra’s purchase. Construction financing for the project was provided by ConnectOne Bank, Bob Cusick, Leo Faresich and Mark Zurlini represented the bank. “Our mission at Tulfra Real Estate is to transform unde- rutilized sites into properties that produce jobs and income for residents and tax revenue for municipalities,” Jumani said. “In this regard, our con- struction and repositioning of 10 Kingsland Rd. is a sound success.” Tul fra recent ly sold a 108,000 s/f self-storage facil- ity located at 670 Passaic Ave. in West Caldwell to Columbia Storage Group, making this the second self-storage prop- erty that the company has acquired from Tulfra.

EAST ORANGE, NJ — PEEK Properties (PEEK) is nearing completion of East Orange’s newest class A apart- ment building at 475 William St., featuring 39 spacious one- and two-bedroom units. Rede- velopment of the site, which previously housed a vacant building for three decades, is contributing toward neighbor- hood revitalization surround- ing Brick Church Station. “This initiative marks the continuation of our strategy to develop, own and operate upscale market-rate apart- ment properties near major train stations throughout New Jersey’s urban-core munici- palities,” said PEEKmanaging partner Emanuel Klein . “Our pride in ownership is rooted in exceptional design and construction – including top- quality sound-proofing mate- rials between floors and walls – to retain long-term curb ap- peal and property performance while also contributing toward “Clifton is home to over 84,000 residents. The prop- erty is just minutes from the Lincoln Tunnel and many crucial New York metro and North Jersey highways, mak- ing it an ideal, accessible location for the region’s many self-storage customers,” said Sonny Jumani , president and partner, Tulfra Real LIFTON, NJ — Ro- chelle Park, New Jer- sey-based real estate redevelopment company, Tul- fra Real Estate has sold 10 Kingsland Rd. in Clifton/ Nutley, NJ to Columbia Stor- age Group for $24.25 million. The 6.5-acre site includes a state-of-the-art climate con- trolled 122,400 s/f self storage building. The storage facil- ity contains 925 units which Columbia Storage Group will own and self manage. The location at 10 King- sland Rd. is 1,000 feet from the Rte. 3 corridor, is well located amidst dense residen- tial and commercial uses.

10 Kingsland Rd.

Estate. Tulfra Real Estate acquired 10 Kingsland Rd. from an out-

of-state corporation in August 2017. Tulfra remediated the property of environmental

issues, obtained complicated approvals and building per- mits from two separate mu-

PEEK Props. nears completion of 475 William St. in East Orange

475 William St.

neighborhood rebirth.” Located at the corner of Wil- liam St. and Ashland Ave., the five-story midrise features a mix of 19 one-bedroom and 20 two-bedroom layouts with fully equipped kitchens that include dishwashers and spa- cious open-concept floorplans. Each apartment unit also

has an individually controlled heating/cooling HVAC system, oversized windows offering abundant light and pictur- esque views, in-unit washer/ dryer, and luxury vinyl-tile plank flooring. In addition, on-premises community amenities include an all-glass façade modern

lobby, 39 garage and paved- surface assigned parking spac- es, a fully equipped first-floor fitness center with an all-glass exterior wall, bike storage room and dedicated secure package delivery area. There also is a second-floor tenant lounge with comfortable seating, a billiards table and entertainment area

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