Self-Storage Facility Coming To Passaic Avenue In West Caldwell

WEST CALDWELL, NJ — The redevelopment of 670 Passaic Avenue in West Caldwell continues.

On Tuesday, Rochelle Park-based developer Tulfra Real Estate announced that it plans to build a 760-unit, 41,000-square-foot self-storage facility at the property, which is expected to be complete by “early summer.”

The new storage facility will be built with a $5.6 million construction loan, Tulfra Real Estate stated in a news release.

Tulfra Real Estate also gained a separate, $6.1 million permanent loan for 670 Passaic Avenue, secured by a long-term net lease to Case-It, a leading binders and office supply manufacturer. News of the financing comes on the heels of a 15-year long-term lease agreement with Case-It, which will occupy 68,000 square feet of the property.

“The initial redevelopment of 670 Passaic Ave. was the beginning of our investment in this property,” said Sonny Jumani, partner and president of Tulfra Real Estate. “This new financing allows us to complete our project. With the help of the mayor and the Township of West Caldwell, this project is now a reality.”

Tulfra acquired the property from an Arizona-based investment group, developers stated.

The West Caldwell property is one of several redevelopment projects currently under Tulfra’s management. The company said that it is also spearheading:

• The redevelopment of the former AT&T data center in Rochelle Park with self-storage, apartments and retail space
• The redevelopment of the former Roche Diagnostics property in Belleville into a 500,000-square-foot retail center that includes a Wawa convenience store and an Extra Space self-storage facility
• A 20-acre, 180-unit rental apartment development in North Haledon
• A 225,000-square-foot flex/tech/self-storage building at 930 Riverview Drive in Totowa, New Jersey

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Image: Tulfra Real Estate