Tulfra Real Estate, a Rochelle Park-based real estate investment company, said Sept. 14 it purchased a prime self-storage site in Jersey City.
The new owner/developer received final approval for a 265,000-squarefoot, state-of-the-art storage facility and adjoining parking. A groundbreaking will be announced shortly.
Located at 300 Thomas McGovern Drive, the location made good sense: there are approximately 158,936 housing units and 22,560 new apartments under development within a 3-mile radius of the site.
The property is minutes from downtown Manhattan, and convenient to all boroughs via the New Jersey Turnpike.
“This acquisition adds another outstanding asset to our portfolio of properties,” said Sonny Jumani, president and chief executive officer of Tulfra Real Estate. “With NYC and downtown Jersey City virtually minutes away, it offers that rare combination of a perfect location in a major distribution center near a high concentration of new residential developments. That is a combination that is hard to beat.”
No purchase price has been disclosed. The broker on the transaction was Thomas Walsh, managing director at Walker & Dunlop.