By Joshua Burd
A tile wholesaler has acquired a 102,000-square-foot warehouse and an adjacent parcel in Monmouth County, in a transaction arranged by Sheldon Gross Realty.
In a news release Wednesday, the brokerage firm said the facility at 10 Ruckle Ave. in Farmingdale will allow Merola Sales Co. to expand its distribution capabilities. The space will serve a family-owned, Manalapan-based business that sells products through many of the nation’s largest home goods and home improvement websites, as well as through hundreds of retail locations.
Sheldon Gross Realty Executive Vice President Jonathan Glick brokered the deal.
“This transaction is particularly reflective of multiple real estate and related trends,” Glick said. “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.”
Glick also touted the site’s central location in Monmouth County and its proximity to routes 33, 79, 9 and 18, along with Interstate 195. Additionally, the property is less than five miles from the Garden State Parkway and a 20-minute drive from the New Jersey Turnpike.
“This is pretty much the definition of a prime location,” Glick said. “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.”
