A new storage facility is rising in the shadow of the Statue of Liberty. Just minutes from Downtown Jersey City at 300 Thomas McGovern Drive, Liberty Storage Center will house 795 self-storage units.
Rochelle Park-based Tulfra Real Estate recently announced the closing of a construction loan to fund the project. Tulfra worked with state and city agencies to acquire all necessary permits to build the storage facility on the site of a former concrete plant. When construction is finished, the building will be managed by Public Storage.
Senior Managing Directors Michael Klein and Jon Mikula of JLL Capital Markets represented Tulfra in securing the loan to TFJ Jersey City LLC. The lender, Fulton Bank, was repped by Jeff Wallace and John Lipiros. Mitchell Berkey and Joseph Zawila of CSG Law provided legal counsel to the borrower.
The project will be built in three phases. Site work and construction is underway on phase one. It will top out at six stories and 103,500 square feet. The climate-controlled facility will total 260,000 square feet when all three phases are completed.
The Liberty State Park-adjacent location of the new Liberty Storage Center affords easy access for customers around the region. It’s an easy 20 minutes from Lower Manhattan and 30 minutes from Downtown Brooklyn via the Holland Tunnel. The Exchange Place Path Station and Liberty State Park Light Rail Station are minutes away.
Real estate and development company Tulfra has broad experience in self-storage. The team has developed facilities in a dozen New Jersey locations totaling 1,000,000 square feet.
