By Joshua Burd
Tulfra Real Estate has acquired a vacant 6.5-acre property alongside Route 3 in Nutley, where it plans to develop a 125,000-square-foot self-storage facility.
The Rochelle Park-based firm said this week that it had purchased 10 Kingsland St. from an out-of-state corporation. With its plans to develop the property, it hopes to tap into a location just south of Route 3 eastbound and alongside a busy retail corridor, one that offers access to more than 250,000 people within a three-mile radius.
Terms were not disclosed. Jason Sobel of Sills Cummis & Gross P.C. represented Tulfra on the acquisition, while Chis Richter of Avison Young obtained the land use approvals.
“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.”
Tulfra said neighboring retail options such as the AMC Clifton Commons 16 movie theater, Kohl’s and Barnes & Noble draw thousands of people to the area every day. The property also offers quick access to Passaic and other densely populated municipalities.
“That density bodes well for self-storage,” Jumani added.
The acquisition of 10 Kingsland follows Tulfra’s success at a nearby location, 65 Industrial Street South in Clifton, which is a 200,000-square-foot former pharmaceutical property that the firm redeveloped into industrial space. It recently announced a full-building lease with Damascus Bakeries.
“Transforming vacant and non-performing properties into vibrant, productive environments are a tremendous asset for the community and the people who live there,” Jumani said. “They beautify the area, generate jobs and increase tax revenues. We are proud to be a part of such a transformation.”