Real Estate Weekly
Image default
Deals & Dealmakers Featured

Shark Tank record-breaker buys bigger HQ in Jersey

Shark Tank super-product Scrub Daddy has acquired a new 116,284 s/f headquarters building in New Jersey.

NAI Mertz president Scott Mertz brokered the sale of the property at 1700 Suckle Highway in Pennsauken, on behalf of the building owner, Seyon Group, for $10.7 million.

Located on Route 130 five minutes from Philadelphia, 1700 Suckle Highway, is a newly-renovated building on a 7.69-acre lot. It features parking for both employee vehicles and trailers, 17 ft. clear ceiling heights, and both tailgate and drive-in loading.

1700 Suckle Highway

Scrub Daddy has become a global phenomenon since the founder, Aaron Krause (pictured top) took his smiley face sponge on the hit TV show in 2012 and garnered a $200,000 investment from Lori Greiner, a Shark Tank host known as the Queen of QVC.  The following day, Greiner and Krause sold out of 42,000 sponges in under seven minutes on QVC and Greiner went on to help Krause ink supplier deals with retail stores such as Bed, Bath & Beyond. Its sales grew to over $100 million a year, the highest of any Shark Tank product.

By 2020, the company had surpassed $200 million in sales when the coronavirus pandemic struck and demand for the firm’s range of cleaning products skyrocketed.

SCOTT MERTZ

“It’s been a pleasure seeing the improvements that Seyon has made to this facility pay off in attracting a nationally prominent tenant,” stated Mertz. “The location will be a perfect headquarters for Scrub Daddy to continue its impressive growth.”

According to Scrub Daddy’s website, demand for its products have risen nearly 300 percent since the start of the pandemic as Americans look to stay a step ahead of the virus with rigorous cleaning regimes.

The company initially expanded its property in Folcroft, PA, before acquiring the new building in Jersey.  

(Visited 1 times, 3 visits today)

Related posts

Brookfield buys 19-acre NJ industrial site

REW

Hope Street Capital leases office at 56 West 22nd

REW

Macquarie funds $167M loan on Trinity’s 77 Greenwich

REW