CHESHIRE: Sky Management Services, LLC with offices in Philadelphia and New York, has purchased 611-617 West Johnson Avenue a four building flex complex totaling 210,000 square feet, with all four buildings adjacent to one another. Sky says it is “conducting an aggressive capital improvement and marketing program at the site and is seeking to secure new tenants by offering very competitive leasing terms, while remaining dedicated to the retention of existing tenants.
The price for the complex was reportedly $2 million. Bob’s Stores and Eastern Mountain Sports are both tenants in the facility, with distribution and headquarters offices.
“We are pleased to acquire our third property in Connecticut, which is extremely
well located with a distinguished tenant roster,” said Alex Dembitzer, founder of Sky Management.
Abilities Without Boundaries is a non-profit tenant that “helps individuals with intellectual and developmental disabilities lead a more productive and fulfilling life.”
“In an effort to further our positive social impact, we have agreed to expand Abilities Without Boundaries by doubling their current space as well as making a significant grant to the organization to assist in fulfilling their important mission,” said Alex Dembitzer.
Additionally, Sky says it plans to add a rooftop solar project to the site, in conjunction with its Meriden, CT solar project. ‘’We are excited to collaborate with our corporate tenants to collectively reduce our carbon footprints and further support the goal of sustainability and resiliency; this project is in addition to five large solar projects currently being developed by Sky,’’ said Erich Schwer, Sky’s renewable energy acquisitions team lead.
NKF Capital Markets’ Kevin Welsh, Brian Schulz and Jason Emrani, in collaboration with CBRE’s Matt O’Hare, represented a major financial institution in the sale. NKF’s Jordy Roeschlaub, Dustin Stolly and Robert Tonnessen also secured acquisition financing.