Zimmel Associates‘ David Zimmel, president, and Jordan Zimmel, vice president, on Tuesday announced they orchestrated the sale of a 33,000-square-foot, one-story, stand-alone industrial building in Tinton Falls for $5.4 million to F.W. Webb, a wholesale distributor of plumbing, heating and HVAC fixtures.
Located at 70 Apple St., the building sits on 2.80 acres and offers many amenities, including a 16-foot-clear ceiling height, two dock-high door/loading and two drive-in grade-level doors. In addition, Red Bank Commuter Rail and Little Silver Commuter Rail are just a few miles away.
The building was owned by Middletown Plumbing and Supply Co. for over 20 years. Zimmel was hired to lease 22,000 square feet shortly after Middletown Plumbing realized it only needed 10,000 square feet to house plumbing and heating supplies. Over the years, Zimmel and Middletown Plumbing have built a very successful relationship.
The Academy of Dance Arts and CrossFit Shrewsbury now lease 22,000 square feet.
With the market conditions being so strong, Robert Singer, owner of Middletown Plumbing, saw opportunity in selling the building, especially with his upcoming plans to retire.