700 Route 46 in Clifton — Courtesy: Tulfra Real Estate
By Joshua Burd
Tulfra Real Estate has sold the final piece of an industrial condominium property in Clifton, inking a deal with an existing occupant that plans to expand within the building.
The Rochelle Park-based investor and developer announced that Agri Exotic Trading Inc. has taken the remaining 13,108-square-foot unit at 700 Route 46, a 70,000-square-foot property. The tenant, which distributes food to hotels, restaurants and caterers throughout the tristate area, is set to move into the space once a lease agreement ends with the existing tenant, AquaFence USA.
Larry Lerman of Lerman Sanders Realty in Totowa brokered the sale. Terms were not disclosed.
“Our team prides itself on bringing fresh and innovative ideas to the properties we acquire,” said Sonny Jumani, president of Tulfra. “So, when tenants and buyers respond positively and see the same value we do, there’s no better feeling.”
The firm originally purchased the 5.3-acre property with plans to create a modern industrial building that would benefit from its access to major highways, including routes 3 and 21 and interstates 80 and 287, along with the Garden State Parkway and the New Jersey Turnpike.
“This final condo sale represents the end of an era, but our unique approach to commercial real estate has not changed,” Jumani said. “We continue to revitalize and redevelop aging commercial properties in communities throughout New Jersey by identifying properties with tremendous potential and investing in them.”