Tulfra Real Estate and The Hampshire Companies Sell 122,000 S/F 21 Fadem Road
The Springfield, NJ industrial property was sold fully leased for $12 million
Rochelle Park, NJ, February 14, 2017 — Tulfra Real Estate has closed on the sale of 21 Fadem Road in Springfield, New Jersey, to Shelbourne Global Solutions, a real estate investment firm based in Brooklyn, New York.
The sale, which closed December 30, 2016, is valued at $12 million. The 5.43 acre property was fully leased at the time of sale. Norman Feinstein Vice Chairman of The Hampshire Companies was the owner representative.
21 Fadem Road is an industrial property acquired in 2008 by Tulfra Real Estate, in partnership with The Hampshire Companies.
The 122,677-square-foot building, which was built in 1963, underwent an extensive renovation in 2009. Tulfra transformed the property into a desirable industrial/flex property and repositioned it for manufacturing, processing, research and development, production, fabricating, technology, data recovery and light industrial. Their efforts attracted a wide range of quality tenants including Global Shipping Solutions and Gehrlicher Solar America Corp.
“The sale says a lot about the management and expertise of Tulfra and our long-standing partner, Hampshire. We were able to significantly improve the value of the asset and sell it fully leased,” said Tulfra Real Estate president and managing member, Sonny Jumani.
Tulfra Real Estate, and The Hampshire Companies are guided by principals who have invested together for decades, and are multigenerational investors, both companies are brand names in the real estate investment/development world, for additional information on each please visit www.tulfra.com and www.hampshireco.com