Rochelle Park-based real estate redevelopment firm Tulfra Real Estate announced on Friday it has sold a self storage facility in Clifton/Nutley for $24.25 million.
The 6.5-acre site located at 10 Kingsland Road was purchased by Wayne-based Columbia Storage Group. The property features a climate-controlled 122,400-square-foot facility with 925 units. It is located within close access to the Route 3 corridor.
“Clifton is home to over 84,000 residents. The property is just minutes from the Lincoln Tunnel and many crucial New York metro and North Jersey highways, making it an ideal, accessible location for the region’s many self-storage customers,” Sonny Jumani, president and partner, Tulfra Real Estate, said.
Tulfa said it acquired the property in 2017 and remediated it of environmental issues and obtained approvals and building permits.
“Our mission at Tulfra Real Estate is to transform underutilized sites into properties that produce jobs and income for residents and tax revenue for municipalities,” Jumani said. “In this regard, our construction and repositioning of 10 Kingsland Road is a sound success.”
Construction financing for the project was provided by ConnectOne Bank. Newmark Knight Frank‘s Kevin Welsh, Brian Schulz, and Jason Emrani served as the brokers.
