Sky Management Buys $18M Industrial Building in CT
- Mar 07, 2018
Sky Management Services LLC has purchased its second industrial asset in Meriden, Conn., for $18 million. The property houses one of Medline’s mission-critical manufacturing facilities, along with an important warehouse for Fosdick Fulfillment Corp., a global logistics company.
The 358,000-square-foot building is located at 550 Research Pkwy., on the southeastern outskirts of the city, adjacent to Interstate 91. The 25.2-acre site is suitable for various uses, such as e-commerce, light manufacturing or distribution.
The building neighbors Sky’s other distribution and office asset at 160 Corporate Court, which the company acquired in February for $15 million. Each of the two properties will receive upgrades of two megawatt solar installations.
“This is our largest purchase in Connecticut to date in terms of square footage, and it showcases our commitment to the state,” said Alex Dembitzer, founder of Sky Management, in prepared remarks. “We see the potential to expand our solar power program here to help the companies reduce their carbon footprints and supply the majority of their onsite electrical consumption while improving the community surrounding the building.”
Image via Google Maps