Tulfra Real Estate and Hampshire Companies Tops Out Clifton’s 65 Industrial Street South
Project Raises the Roof of the Recently-acquired 202,000-Square-Foot Industrial Building as Part of a $10 Million Repositioning
Clifton, NJ, August 31, 2015 – Tulfra Real Estate has topped out 65 Industrial Street South in Clifton, raising the roof to 27-foot clear height as part of as $10 million upgrade of the headquarters-quality industrial building. Tulfra Real Estate and Morristown, NJ-based Hampshire Companies recently acquired the former Glaxo building with the goal of repositioning the prime, well-located property for single-tenant use. The 202,000-square-foot building also includes 28,000 square feet of built-out office space.
“We will also be adding new exterior skin and a full range of contemporary amenities as part of that repositioning,” said Sonny Jumani, president and partner of Tulfra Real Estate, one of Northern New Jersey’s leading developers, owners, and managers of industrial buildings, land, and industrial condominiums. “The project will make the property extremely functional and appealing in a Meadowlands submarket with very little competition for facilities in that size range.”
Constructed in 1956, the class A, single-story building previously underwent renovations in 2014. It occupies 11 acres and has access to Route 3, the New Jersey Turnpike and Garden State Parkway. The Lincoln Tunnel, providing access to New York City, is just 12 miles away. Its infrastructure includes five MW of power, with a PSEG substation nearby, as well as 16 loading docks and 200 parking spaces.
“The significant built-out office component enhances 65 Industrial Street South’s appeal as an industrial headquarters,” said Lloyd Tulp, managing member of Tulfra Real Estate. “The site is ideal for food manufacturing and distribution, as well as technology and related manufacturing. Topping out the building to the new clear ceiling height is an important step in the process of re-tenanting the site.”
“The New Jersey industrial real estate market remains exceptionally strong, and we saw this acquisition and repositioning as an important opportunity,” said Tulp. “We are currently marketing 65 Industrial Street South for lease or sale, and anticipate substantial interest in this availability.
“In that market, we buy sites that demand ‘impossible’ solutions, including complex environmental and financial issues,” said Tulp. “And we design our projects with the latest in design and composition, including manufacturing efficiencies and lower operating costs, to give our customers a competitive edge.
“When we see a property, we see more than square feet,” he said. “We see possibilities, utilizing a full complement of turnkey best-in-class solutions that solve business problems.”