Sky Management Services, LLC (Sky Management) announced the purchase of 107 Tom Starling Road in Fayetteville, NC. The approximately 1 million square foot, multi-tenanted warehouse and distribution facility is situated on 120 acres and is strategically located on the Interstate 95 corridor, in close proximity to the to Raleigh-Durham metro area. The property features 32 foot clear ceilings and a generous parking ratio with abundant loading.
The property’s main tenant, Ellery Homestyles, occupies most of the property and is the company’s headquarters, warehouse distribution and design facility. Ellery Homestyles, LLC is a leading supplier of branded and private label home fashion products for major retailers. Sky closed on the transaction in less than 45 days and is in advanced stages with tenants for the remaining limited prime space available at the site.
Alex Dembitzer, founder of Sky Management Services, LLC commented, “We are pleased to acquire our seventh property in North Carolina, a well located facility with a highly reputable and distinguished anchor tenant, Ellery Homestyles. The property is mission critical to their operation and we are looking forward to a long-term relationship with Ellery.” Marc Civitillo, Managing Director at Sky Management, added “We saw a highly efficient, functional and well located warehouse facility that provides great Interstate 95 access and proximity to southeastern markets and ports; this is an excellent addition to our portfolio.”
This acquisition adds to Sky’s positive social impact and dedication to investing in markets that have a strong commitment to defense, Homeland Security and the armed forces. Sky is excited to continue to provide high quality jobs in important communities like Fayetteville. The total military population of the Fayetteville market is 60,000 military personnel; most relate to the Fort Bragg, home of The Airborne and Special Operations Forces.
This purchase is the continuing expansion and growth of Sky Management, completing nearly 3 million square feet of prime industrial acquisitions in 2018. Sky is actively growing it’s portfolio and has the ability to execute immediately on new acquisitions.
About Sky Management Services, LLC
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. To learn more and speak to the acquisitions team please contact Marc Civitillo or Erich Schwer at 212-888-6920, or visit www.skyrem.com.
