Real estate management and development company Tulfra Real Estate has named Sonny Jumani as CEO in addition to his roles as president and partner. Tulfra specializes in working with municipalities to transform underutilized or non-performing assets into new, functioning projects. As CEO and president, Jumani will continue to focus on the company’s four primary asset classes: industrial, multi-family, retail and self-storage, he told the source.
Jumani has been with Tulfra for 15 years. He was named partner and president in 2014. “Sonny has led Tulfra Real Estate through a significant company repositioning and transformation, from an industrial real estate developer to the premier specialist in the revitalization of underperforming and underutilized commercial properties,” said principal S. Lloyd Tulp, who stepped down as CEO to serve as co-chairman with Salvatore Frassetto. “Sonny is an indispensable leader, and we at Tulfra are excited for the next chapter.”
“Redevelopment is an art, not a science,” Jumani told the source. “It takes years of experience to know with certainty which sites have the most potential to bring value and purpose back to their communities. At Tulfra, we are on a mission to find value and monetize these properties for our investment partners and their communities.”
Among Tulfra’s projects is the conversion of the former Roche Diagnostics USA property at Park 11 in Belleville, New Jersey, into a 500,000-square-foot, mixed-use project that includes an Extra Space Storage facility among other retail spaces. It was developed in partnership with the Hampshire Real Estate Cos., a real estate investment firm with experience in self-storage.
Based in Rochelle Park, N.J., Tulfra has owned or developed more than $1 billion in commercial and industrial properties in Northern and Central New Jersey over four decades. It works with municipalities to transform underutilized or non-performing assets into all sorts of commercial projects including hotels, healthcare and residential facilities, and self-storage.
ROI-NJ, Jumani Elevated to CEO of Tulfra Real Estate