Commercial developer Tulfra Real Estate recently announced it has acquired a 6.5-acre property behind Route 3 Eastbound in Clifton and Nutley.
Jason Sobel of Sills Cummis & Gross P.C. represented Tulfra in the transaction. Financial terms were not disclosed.
The property, located at 10 Kingsland St. in Nutley, will be developed into a 125,000-square-foot self-storage facility.
“This property is situated right in between Route 3’s bustling retail and recreational attractions and a high-density residential neighborhood,” Tulfra Real Estate President and Managing Member Sonny Jumani said. “This makes it the perfect location for a self-storage facility, which will serve both commercial and residential tenants, alike.”
According to Tulfra, over 250,000 people reside within three miles from the site.
“The acquisition of 10 Kingsland St. is just another example of a highly-anticipated Tulfra redevelopment project in the area following the success of 65 Industrial St. South, a 200,000-square-foot industrial building in Clifton, now fully leased to a nationwide bakery,” Tulfra said in a news release. “Tulfra is also currently redeveloping Park 11, the former Roche Diagnostics property, a 500,000-square-foot mixed-use project in Belleville, New Jersey.”
The property was acquired from an out-of-state corporation.