The extensive renovation included upgrades to the façade, parking lot resurfacing, addition of loading docks and building system improvements. Heightened market demand subsequently resulted in the lease-up of the improved facility.
Altogether, nine new tenants were brought on-board. The lease effort was completed earlier this year with the signing of Aphena Pharma Solutions Inc.; Applechem Inc., a cosmetic ingredient supplier; and the Germany-based IWK Packaging Systems Inc. The range of tenants utilize the space for warehousing, R&D, and production.
Located near the intersection of I-80 and I-287, 2 Cranberry Road is situated within Fox Hill Industrial Park. Routes 46 and 202 are also nearby.
Tulfra Real Estate 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.
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/tulfra-real-estate-and-the-hampshire-companies-complete-175-million-sale-of-industrial-facility-300280123.html
SOURCE Tulfra Real Estate