Sonny Jumani has been named CEO Tulfra Real Estateleaders S. Lloyd Tulp and Salvatore Frassetto said on Tuesday.
Tulp and Frassetto will be co-chairs.
“Sonny has led Tulfra Real Estate through a significant change and transformation of the company, from an industrial real estate developer to a leading specialist in the rehabilitation of inefficient and underutilized commercial properties,” said Tulp. “Sonny is an indispensable leader, and at Tulfra we look forward to the next chapter as Sonny takes over his new role as President and CEO.”
Jumani has been part of Tulfra Real Estate for 15 years. At the time, he was managing Tulfra’s portfolio of 4 million square feet of real estate. In 2014, he was named partner and president of the firm.
Under Jumani’s leadership, Tulfra has evolved from a manufacturing and rental developer to a full-fledged organization with the reliable resources to rehabilitate properties that have the potential to add value to their communities.
“Redevelopment is an art, not a science,” Jumani said. “It takes years of experience to know exactly which sites have the greatest potential to bring value and purpose back to their communities. At Tulfra, we are committed to finding value and monetizing this property for our investment partners and their communities. ”
Tulfra, headquartered in Rochelle Park, has grown into a major developer for municipalities and corporations throughout New Jersey. Independently and jointly with its institutional partners, Tulfra has owned or developed over $ 1 billion in commercial and industrial properties in north-central New Jersey over four decades.
Tulfra has become a leader in helping communities and businesses maximize their development potential and generate income from their properties. Tulfra works with municipalities to convert underutilized or non-performing assets into successful projects across all asset classes, including commercial, hospitality, healthcare and residential, that generate jobs and tax revenue for the community. He also helps corporations by leveraging his experience and attention to detail in redeveloping properties to fit the needs of 21st century businesses.
Jumani said Tulfra’s focus will not change.
“We will continue to focus on four main asset classes: retail services, apartment buildings, warehouses and industrial real estate,” he said. “When a municipality or property owner partners with us, they have access to experts in investment, renovation, construction and rental – all specialties that contribute to success.”
Jumani said he is proud that Tulfra remodeled 500,000 square feet during the COVID-19 pandemic, overcoming an unprecedented global shutdown problem that has slowed commercial real estate growth significantly.
“Completing the ground construction during the COVID-19 pandemic was no easy feat, but with over 100 years of combined experience, we were able to leverage our skills and specialties as a firm to see how these projects move forward,” Jumani said.
Tulfra Real Estate together with Hampshire companies, its longtime joint venture partner, completed work at the Park 11 facility, converting the former Roche Diagnostics Belleville site into a 500,000 square foot mixed-use center with Wawa and Extra Space Storage, among other available retail locations.
The firm is also completing the renovation of a 20-acre former municipal site in North Chaledon. They converted a once-idle property into Molly Brook in Belmont., impressive residential complex for rent with 180 apartments. The project is currently open, its delivery is scheduled for August 15th.
Tulfra is also currently developing the Village Center of Rochelle Park on a former 7.5 acre site. McCaly as well as AT&T data center site. Located across the street from Westfield Garden State Plaza, one of the largest shopping malls in the state, this hotel will feature 8,000 square feet of retail space, a luxury 160-unit apartment complex and a public park. … A 100,000 square foot warehouse, 816 units, was recently completed and sold.
“We are now actively selling two marketplaces that provide incredible visibility and access to major roads,” Jumani said. “We’ve already had a lot of activity, and this is another sign that the business is back.”