14C — May 27 - June 9, 2016 — Industrial / Distribution Centers — M id A tlantic
Real Estate Journal
www.marejournal.com
I ndustrial R eal E state & D istribution C enters 65 Industrial Street South is now positioned as a 204,000 s/f distribution facility Tulfra and Hampshire Companies complete $10 million in upgrades for e-commerce user C LIFTON, NJ —Origi- nally constructed in 1956, the iconic former
everything in that context.” In the case of 65 Industrial Street South, location is in- deed key. Situated in the heart of the densely populated New York/New Jersey metropolitan area, the 11-acre property is located within minutes of the New Jersey Turnpike, Garden State Parkway, U.S. Route 3, the Lincoln Tunnel, the George Washington Bridge, and Newark Liberty Interna- tional Airport in the highly desirable Route 3 corridor market. “It is a prime ‘last mile’ facility in the New York metro area,” said Jumani. It is also situated in a mar-
ket featuring a large, skilled labor pool, with public trans- portation literally right at the door. With 18 loading docks, 24 cross-dock doors and 200 park- ing spaces, the property is primed for the timely delivery operations that e-commerce demands. E-commerce also relies heavily on power to meet system demands, and in that regard, 65 Industrial Street South’s infrastructure includes five MW of power, 3,000 amps at 480 watts, and the property is situated less than one mile from a PSE&G substation.
“The $10 million of upgrades included raising the roof to a 27-foot clear height,” said Jumani, who noted that e- commerce also relies on high- bay facilities for maximum efficiency. Other upgrades included “new exterior skin and a full range of contem- porary amenities,” he said. “It is a headquarters-quality e-commerce building in every respect.” The latest upgrades to posi- tion the property for e-com- merce also include such high- end finishes as a new epoxy warehouse floor and T-5 light- ing. It follows an earlier reno- vation in 2014, with the com- bined efforts “truly positioning 65 Industrial Street South as a cutting-edge facility,” said Jumani. “It is a tremendous space for its targeted use.” Other key building features include an ESFR sprinkler system and full fire loop. Driven by the time-sensitive and volume requirements of e-commerce, “the New Jersey industrial real estate market continues to be exceptionally strong,” said Jumani. “We saw this acquisition and reposi- tioning as an important oppor- tunity to meet the demands of this marketplace. Ultimately, we design our projects to meet the latest technology require- ments of growing companies, based on efficiencies and lower operating costs. “When we see a property, we see more than ‘square feet’,” he said. “We see the possibilities any given property can present and utilize a full complement of turn-key, best-in-class so- lutions. 65 Industrial Street South is a text book example and will provide a best-in- class solution to the right e- commerce operation.” Tulfra Real Estate and its affiliates currently own and manage four million square feet of industrial and commer- cial real estate, encompassing more than 50 buildings with 200 public and private tenants in Northern and Central New Jersey. The firm currently has an additional 500,000 square feet under development. The Hampshire Companies, headquartered in Morristown, New Jersey is a privately held, fully integrated real estate firm that has more than 50 years of hands-on, cycle-tested experience in acquiring, devel- oping, leasing, repositioning, managing, financing and dis- posing of real estate. n
Hampshire Companies ac- quired the 204,000 s/f, Class A property in 2015 and has subsequently completed a $10 million program of state-of- the-art upgrades to the well- located property to position it for e-commerce. With the building currently available for lease, “we are currently targeting large e- commerce, technology and food service companies,” said Sonny Jumani , president and partner of the Rochelle Park, NJ-based Tulfra Real Estate. “E-commerce demands next-day or same-day delivery service, and location means
Glaxo build- ing located at 65 Industrial Street South in Cl i f t on , NJ i s now p o s i t i o n e d and destined to find new life as a 21st
Sonny Jumani
century distribution facility. E-commerce is a driving fac- tor in New Jersey’s – and the nation’s – logistics market- place, and with that in mind, Tulfra Real Estate and The
+/- 270,000 SF NEW DISTRIBUTION CENTER BUILD-TO-SUIT AVAILABLE
STATE LINE
BUSINESS PARK
ONE SHARP PLAZA, MAHWAH
HIGHLIGHTS
• Located at the border of NY/NJ and at the intersections of Route 17 and Interstates 287 & 87 • Excellent highway access - Route 17 on/off ramps are 0.8 miles away • Close proximity to public transportation • Minutes away from numerous hotels, restaurants,
OWNED BY:
ITEX S G R O U P
retail and entertainment • Corporate park setting
SELECT BUILDING SPECS
Office:
To suit
Ceiling height: 36’ clear Column spacing: 54’ x 60’ Dock doors:
For more information, please contact the exclusive leasing agent:
(36) 9’ x 10’
Trailer parking:
25 trailer spaces
+1 201 528 4400
Made with FlippingBook HTML5