Sky Management Services, LLC (Sky Management) a leading privately held commercial real estate investment, development and management company, announced today that it has signed a long-term commitment and a 100,000 square foot lease with Landair Logistics, Inc. at its industrial facility located at 107 Tom Starling Road in Fayetteville, NC.
Founded in 1981, Landair, a division of Covenant Transportation Group, Inc. (NASDAQ: CVTI), is a leading dedicated and for-hire truckload carrier, as well as supplier of 3PL transportation, warehousing and logistics inventory management services.
“The newly signed lease serves as a testament to the first-class industrial environment at the property and exemplifies the continued demand for distribution and logistics space. The property is ideal for logistics with its immediate access to the I-95 corridor,” said Alex Dembitzer,founder of Sky Management.
Since acquiring the property in July of this year, Sky has implemented a comprehensive leasing and capital improvement campaign. The Fayetteville property is a multi-tenanted warehouse and distribution facility situated on 120 acres and strategically located on the Interstate 95 corridor, in close proximity to the Raleigh-Durham metro area. The property features 32 foot clear ceiling heights and a generous parking ratio with abundant loading.
“Sky is excited to continue to provide high quality jobs in important communities like Fayetteville. Landair chose to relocate to 107 Tom Starling Road due to its immediate interstate access and to be closer to their customer base,” said Jon Zich, Senior Advisor at Sky Management.
Sky is also proud to have provided the Fayetteville Fire Department and The Red Cross temporary warehouse space at 107 Tom Starling Road to store and distribute goods to those affected by Hurricane Florence.
Tommy Turner and James Belcher of Newmark Knight Frank were the brokers on the lease with Landair.
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.
