A 102,000-square-foot warehouse in Farmingdale has been purchased by a distributor of specialty tiles, according to real estate firm Sheldon Gross Realty.
Manalapan-based Merola Sales Co., which sells tiles and supplies as Merola Tile, purchased the property and adjacent land at 10 Ruckle Ave. Financial terms were not disclosed; neither was the seller.
West Orange-based Sheldon Gross’ executive vice president, Jonathan Glick, brokered the deal.
“This transaction is particularly reflective of multiple real estate and related trends,” he said in a prepared statement. “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.”
Merola Tile is family owned and has more than 100 employees, selling products through retailers and e-commerce.