Tinton Falls, N.J. (September 20, 2022) – David Zimmel, President of Zimmel Associates and Jordan Zimmel, Vice President of Zimmel Associates announce the sale of 70 Apple Street in Tinton Falls, N.J. for $5,400,000.
The 33,000 square foot, one-story, stand-alone industrial building on 2.80 acres offers many amenities, including a 16 foot clear ceiling height, 2 dock-high door/loading and 2 drive-in grade-level doors. In addition, Red Bank Commuter Rail and Little Silver Commuter Rail are just a few miles away.
The seller, Middletown Plumbing and Supply Company, Corp., purchased 70 Apple Street, Tinton Falls over 20 years ago, primarily operating in plumbing and heating equipment and supplies. Shortly after purchasing the building and only necessitating 10,000 square feet, Zimmel Associates was hired to lease the additional space. The Academy of Dance Arts and CrossFit Shrewsbury lease 22,000 square feet.
Over the last 15 years, Zimmel Associates and Middletown Plumbing and Supply Company, Corp. have built a very successful relationship.
With the market conditions being so strong, Robert M. Singer, owner of Middletown Plumbing and Supply Company, Corp. felt this would be the perfect time to sell the building. In addition, the timing worked well with his upcoming plans to retire.
Jordan Zimmel handled the leasing of the building for the last 12 years. Together with David Zimmel, they were able to effectively market and sell the building to F.W. Webb, a wholesale distributor of plumbing, heating, and HVAC fixtures for $5,400,000, who was looking to buy a building in the area. “The building received lots of activity,” says Jordan Zimmel. “Coincidentally, the company was in the same business and purchased the building with the inventory.”
ABOUT ZIMMEL ASSOCIATES
Zimmel Associates is a full service corporate real estate brokerage firm that provides knowledge-driven real estate leasing, sales, consulting and property management services. Clients include owners, tenants, investors and developers.
The firm is well known throughout New Jersey where they represent more than 5 million square feet of exclusive space. Zimmel Associates’ geographic scope also includes New York and Pennsylvania.
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