News: Front Section
Posted: July 27, 2018
Sky Management Services purchases 190,000 s/f industrial facility
Manchester, CT Sky Management Services, LLC has purchased 100 Sanrico Dr., a 190,000 s/f single tenant industrial/distribution facility. The property is located half a mile east of I-84, providing access to the greater Northeast corridor and will include a two megawatt rooftop solar project. This is the fourth acquisition Sky Management has made in the state in 2018, bringing Sky’s total real estate holdings in the state to over 1 million s/f.
The property is fully leased to HomeGoods, Inc., a subsidiary of TJX Corp. “We are thrilled to work with a tenant such as HomeGoods that offers great economic growth to the Greater Hartford region of Connecticut and look forward to maintaining a very successful working relationship. In fact, I’m delighted to announce that HomeGoods has agreed to extend their current lease at this site,” said Alex Dembitzer, founder of Sky.
The warehouse facility is situated on 10.1 acres and is located within the Manchester Industrial Park. The property features 24 dock doors and 45’ clear heights.
Marc Civitillo, managing director of Sky said, “We are extremely excited about this investment. We saw a highly efficient and functional warehouse facility, occupied by a credit worthy tenant; this is an excellent addition to our portfolio.”
Sky has plans for capital improvements at the site and will construct a two megawatt rooftop solar project. This project will expand Sky’s commitment to the environment, create greater energy independence and support the local economy with job creation.
Sky Management Services, with offices in Philadelphia and in New York City, is a privately funded and managed real estate company which owns and operates a large, diversified portfolio of properties in the United States. As a principal for its own account, Sky is actively acquiring in New England and throughout the east coast.
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