Kurt Praschak / [email protected] / 979.992-7800, x.289
Alexa Cangialosi / [email protected] / 973.992-7800, x.172
Sheldon Gross Realty brokers deal for 102,000-square-foot warehouse, plus undeveloped land
FARMINGDALE, NJ (Feb. 24, 2021) – A 102,000-square-foot warehouse and adjacent, undeveloped land at 10 Ruckle Avenue in Farmingdale have been purchased by Manalapan-based Merola Sales Company. The deal was brokered by Sheldon Gross Realty Executive Vice President Jonathan Glick.
Founded in 1988, Merola Tile is a leading, East Coast wholesale distributor of specialty tiles and supplies. Family-owned, with more than 100 employees, the company’s e-commerce business offers product through many of the nation’s largest home goods and home improvement websites, as well as through hundreds of retail locations.
“This transaction is particularly reflective of multiple real estate and related trends,” Glick says. “Right now, there’s intense demand for warehouse space across central New Jersey. In addition, the pandemic has prompted many homeowners to initiate residential improvement projects that happen to require exactly the products that Merola sells. In short, this is exactly the right deal, in exactly the right place, at exactly the right time.”
Centrally located in Monmouth County, the industrial property is only minutes from routes 33, 79, 9, 18, and 195. In addition, it’s less than a five-mile drive from the Garden State Parkway, and is only 20 minutes from the New Jersey Turnpike.
“This is pretty much the definition of a prime location,” Glick adds. “It’s surrounded by a variety of other businesses, is about a 30-minute drive from New York City, and offers extra land that provides an opportunity for expansion.”
About Sheldon Gross Realty
Based in New Jersey and also licensed in New York State, Sheldon Gross Realty, Inc. offers clients a broad array of specialized services, including office, industrial and retail brokerage; tenant representation; property and asset management; office relocation; and consulting. Founded in 1962, the firm is known for its long-term client relationships, high percentage of repeat business, and a stellar, 95 percent success rate in leasing/selling the property assignment it undertakes. Featuring an exceptional team of professionals renowned for outstanding customer service and committed to unparalleled market research, Sheldon Gross Realty addresses its clients’ corporate real estate needs on a local, regional, and national scale.
Additional information is available online, at www.sheldongrossrealty.com. A free consultation is available by calling 862.930-5714.