CLIFTON, NJ–CBRE scored a double recently as it represented Tulfra Realty II, LLC in the sale of a portfolio of two properties in Clifton, NJ. CBRE brokered the September sale of 10 Clifton Boulevard and followed it up with the closing of 200 Clifton Boulevardthis month for a combined total of $27.3 million.
Jeffrey Dunne, Kevin Welsh, Brian Schulz and Frank Maresca of CBRE's Institutional Properties team, Michael Hines, Brian Fiumara and Brad Ruppel of CBRE's National Partners, and Bill Waxman of CBRE's Saddle Brook office, represented Tulfra. The team also identified the first-time New Jersey buyer, J & L Real Properties, LLC.
The “Clifton Portfolio” is comprised of two multi-tenant industrial buildings totaling 288,469 square feet (10 Clifton – 144,005 sq. ft. and 200 Clifton – 144,464 sq. ft.) that Tulfra redeveloped in 2004, including new roofs, HVAC, loading, façade, extensive site work and landscaping. The redevelopment strategy focused on creating attractive curb appeal along with flexibility and functionality of the buildings to target 5,000 to 25,000-sq.-ft. tenants.
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