Tulfra completes $60M in self-storage trades with Columbia

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Tulfra Real Estate has sold a 113,000 s/f self-storage
building at 120
West Passaic Street in Rochelle Park, NJ, to
Columbia Storage Group. 

The four-story, 816-unit building
is part of the seven-acre mixed-use Village
Center of Rochelle Park, where Tulfra is developing 160 luxury
apartments, retail, and a park with open space and a pond.

The local investment
and development company acquired the former AT&T data site in late 2018. First
Bank provided a $10.3 million construction loan to build the facility. Kevin
Welsh, executive managing director and Brian W. Schulz, managing director at
Newmark brokered the sale to Columbia.

Situated directly across from Unibail-Rodamco-Westfield Garden State Plaza, one of the largest and most popular shopping centers in the tri-state area, the site is minutes from major highways and offers public transportation into Manhattan.

SONNY JUMANI

Sonny Jumani,
president of Tulfra, said,  “The site was
sitting idle for several years. We saw the opportunity to bring jobs and tax revenue
to the township, and with its close proximity to the largest retail mall in the
tri-state area and large number of residential within a three-mile radius, we knew
there would be a high demand for self-storage.”

This is the third
Tulfra self-storage building sold to Columbia Self Storage across $60 million
in transactions. The company also recently sold a 122,400 s/f building at 10
Kingsland Road in Clifton/Nutley and a 108,000 s/f building in West Caldwell. Columbia
now has 20 self-storage facilities and nearly 7,000 units throughout the
tri-state area.

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