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| CubeSmart Self Storage Facility Rochelle Park, NJ |
FLORHAM PARK, NJ – Feb. 6, 2019 – Holliday
Fenoglio Fowler, L.P. (HFF) announces the $10.3 million construction financing
for the development of an 829-unit, Class A CubeSmart self storage
facility in the Bergen County community of Rochelle Park, New Jersey.
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| Michael Klein |
The 112,980-square-foot facility will house 829
climate-controlled storage units ranging from 25 to 300 square feet along with
office space.
The four-story building will be
situated on two acres at 120 West Passaic Street approximately 0.2 miles from
the intersection of Passaic Street and Rochelle Avenue, 1.1 miles from the
Garden State Parkway and 2.6 miles from Interstate 80.
The property is in Rochelle Park,
a community approximately 16 miles from Manhattan. Surrounded by a
densely populated residential neighborhood, there are an estimated 17,816,
197,040 and 627,292 people respectively across 6,741, 74,461 and 217,344
households within a one-, three- and five-mile radius of the property,
respectively.
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| Jon Mikula |
The HFF debt placement team representing the
borrower included managing director Michael Klein and senior managing
director Jon Mikula.
“HFF is pleased to have represented Tulfra Real
Estate once again and continue to help them grow their expanding self-storage
portfolio,” Klein said.
“First Bank provided the borrower with attractive
deal terms, the flexibility that they were seeking and was able to move quickly
in order to close within a condensed time frame.”
CONTACTS:
MICHAEL KLEIN
HFF Managing Director
(973) 549-2000
KIMBERLY
STEELE
HFF Digital
Content/Public Relations Specialist
(713)
852-3420
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