{"id":1004231428,"date":"2018-05-22T08:01:40","date_gmt":"2018-05-22T16:01:40","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004231428"},"modified":"2022-12-08T15:01:28","modified_gmt":"2022-12-08T23:01:28","slug":"hff-arranges-10m-financing-for-nj-storage-development","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/hff-arranges-10m-financing-for-nj-storage-development\/","title":{"rendered":"HFF Arranges $10M Financing for NJ Storage Development"},"content":{"rendered":"<p>By Evelyn Jozsa<\/p>\n<div id=\"attachment_1004231434\" style=\"width: 375px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/05\/10-Kingsland-Rendering-Email.jpg\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004231434\" data-attachment-id=\"1004231434\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/hff-arranges-10m-financing-for-nj-storage-development\/10-kingsland-rendering-email\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/05\/10-Kingsland-Rendering-Email.jpg\" data-orig-size=\"800,620\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;1&quot;}\" data-image-title=\"10 Kingsland, Nutley, N.J\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;10 Kingsland, Nutley, N.J&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/05\/10-Kingsland-Rendering-Email.jpg?w=800\" class=\"wp-image-1004231434\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/05\/10-Kingsland-Rendering-Email.jpg\" alt=\"\" width=\"365\" height=\"272\" \/><\/a><p id=\"caption-attachment-1004231434\" class=\"wp-caption-text\">10 Kingsland, Nutley, N.J<\/p><\/div>\n<p>Tulfra Real Estate has received $10.2 million in financing for the development of a 125,000-square-foot self-storage development in Nutley, N.J. HFF secured the loan through the Bank of New Jersey. CubeSmart will be the manager of the facility. In February, HFF also secured a\u00a0<a href=\"https:\/\/www.commercialsearch.com\/news\/nc-self-storage-project-lands-construction-loan\/\">construction loan for a CubeSmart-managed property<\/a> located in Uptown Charlotte, N.C.<\/p>\n<p>The new development will be situated at 10 Kingsland St., at the border of Nutley and Clifton, near State Route 3, the region\u2019s retail corridor. Additionally, the storage location provides access to Garden State Parkway and Interstate 95. The area is densely populated; around 247,000 people live within a three-mile radius, with a median income of roughly $70,000. The trade area offers around 1.7 net rentable square feet per capita.<\/p>\n<p>The storage building will comprise 765 climate-controlled and 160 non-climate-controlled units. Other features of the facility will include retail space for selling supplies and truck rental options.<\/p>\n<p><em>\u201cHFF is pleased to have placed yet another loan for Tulfra Real Estate,\u201d<\/em> said Michael Klein, managing director at HFF, in prepared statements. <em>\u201cThe property\u2019s location off Route 3, its strong demographics within the trade area and a top-tier operator such as CubeSmart made this a very attractive deal to lenders.\u201d<\/em><\/p>\n<p><em>Image courtesy of HFF<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The company has secured the loan through the Bank of New Jersey for the construction of a 925-unit self-storage facility located in Nutley, N.J.<\/p>\n","protected":false},"author":871,"featured_media":1004231434,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21825,1600,21742,10],"tags":[35721,32792,34062],"class_list":["post-1004231428","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance","category-new-york","category-latest","category-northeast","tag-cubesmart","tag-hff","tag-michael-klein"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - 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