Commercial real estate firms Tulfra Real Estate and The Hampshire Cos. recently announced they have fully leased a 204,000-square-foot property in Clifton to Brooklyn-based Damascus Bakeries.Commercial real estate firms Tulfra Real Estate and The Hampshire Cos. recently announced they have fully leased a 204,000-square-foot property in Clifton to Brooklyn-based Damascus Bakeries.
The property, located at 65 Industrial St. S., was acquired by the firms in 2015 and underwent a $10 million upgrade and renovation.
“This is an outstanding success story,” Sonny Jumani, president and partner of Tulfra Real Estate, said. “It is a testament to our team’s vision and talent. We knew that there was a huge demand for industrial space in the Meadowlands area. The fundamentals are very strong and very few large blocks of space were available. When we acquired the building, the building was old, empty and nonperforming. We designed and executed a plan to make significant improvements to meet the demands of a large food tenant.”
Damascus Bakeries is a provider to Starbucks, Chick-fil-A, Whole Foods, Costco and others. The company operates out of Brooklyn and Newark.
Mark Tannen of United Realty represented Damascus, while Chris Hile, Jenna Imperatore and Harold Imperatore of JLL represented Hampshire and Tulfra.
“Tulfra has become synonymous with redevelopment,” Jumani said. “This successful property transformation brings lots of jobs and revenue back to the city. We are proud of our accomplishment.”
Damascus Bakeries was awarded an $18 million Grow New Jersey grant as an incentive for the move.