Sonny Jumani Named Partner and President of Tulfra Realty Company
Firm Currently Owns and Manages 4 Million Square Feet of Properties
Rochelle Park, NJ, January 10, 2014 – Sonny Jumani has been named full partner and president of Tulfra Realty Co., announced S. Lloyd Tulp and Sal Frassetto, who head the Rochelle Park-based industrial real estate management and development company. “Sonny has a solid, established track record in the real estate industry, and is a highly valued member of our team,” said Tulp. “He is well-deserving of this new role.”
Tulp and Frassetto will remain as co-chairman.
At Tulfra, Jumani oversees a portfolio of two million square feet, valued at more than $200 million, with 100 tenants. He is credited with industrial condominium sales of $67 million, investment sales of $95 million, and acquisitions totaling $100 million for the firm. Prior to joining Tulfra in 2006, he worked with a private, New Jersey-based real estate investor where he oversaw a portfolio of 600,000 square feet of offices and 120 apartments.
Credited as a pioneer in the industrial condominium concept, Tulfra Realty Co. and its affiliates currently own and manage four million square feet of industrial and commercial real estate, encompassing more than 50 buildings with 200 public and private tenants in Northern and Central New Jersey. The firm currently has an additional 500,000 square feet under development.
Most recently, Tulfra acquired 65 Industrial Street South, the former Glaxo building in Clifton, NJ. Situated on 11 acres near major highways, the single-story headquarters-quality industrial building totals 201,000 square feet and includes 28,000 square feet of office space.
“As part of our process, we are raising the roof to 26-foot clear, at a cost of approximately $10 million,” said Tulp. “That process will make the building extremely functional and appealing. There is very little competition in the market for that size—no space like that in the Meadowlands submarket. We will be marketing the property for lease to a single tenant, or for sale, and anticipate a great deal of interest in this offering.”
Other major assets in Tulfra Realty’s portfolio include 8 Fairfield Crescent, West Caldwell, and 2 Cranberry Road, Parsippany to name a few.