In one of the largest industrial transactions in the North Jersey market in 2017, Tulfra Real Estate and The Hampshire Companies announced that 65 Industrial Street South, a 204,000 square foot industrial/warehouse building in Clifton, New Jersey has been fully leased to Damascus Bakery, Inc. of Brooklyn, New York.
Damascus Bakery, a family-owned and operated bakery since 1930, is a large-scale baker of paninis, pitas, roll-ups and wraps which can be found in such popular retail locations as Starbucks, Chick-fil-A, Whole Foods, Kings, and Costco, among others. The bakery currently has operation facilities in Brooklyn, New York, and in Newark, New Jersey.
The former GlaxoSmithKline building had recently undergone a major $10 million upgrade and renovation after Tulfra Real Estate, the Rochelle Park, NJ-based industrial real estate management and development company teamed up with Morristown, NJ-based Hampshire Companies to acquire the building in 2015. The partners, which have a decades-long relationship and have combined to develop more than three million square feet, launched a major repositioning of the former manufacturing plant for single-tenant use.
“This is an outstanding success story,” says Sonny Jumani, president and partner of Tulfra Real Estate. “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.”
Those changes included a major project to ‘raise the roof’ to 27’ to exceed manufacturing and storage requirements, changing the exterior skin, installing new power, electrical and mechanical system, T5 lighting, sprinklers and more.
In recognition of the improvements, the City of Clifton recently awarded 65 Industrial Street South with a “Commercial Beautification Award,” the highest honor for architecture and development.
“Tulfra has become synonymous with redevelopment,” adds Jumani. “This successful property transformation brings lots of jobs and revenue back to the city. We are proud of our accomplishment.”
Damascus Bakery was represented by Mark Tannen of United Realty and the ownership was represented by Chris Hile, Jenna Imperatore and Harold Imperatore of Jones Lang LaSalle.
Mitchell Berkey of CSG Law represented the ownership on the lease agreement. Damascus Bakery was represented by Steven D. Fleissig of Greenberg Traurig, LLP.
Ted Zangari and Cecilia I. Lassiter of Sills Cummis & Gross PC represented Damascus Bakery on the $18 million Grow NJ grant.