Improvements to the Building Include 2 Megawatt Solar Installation

Alex Dembitzer, founder of Sky Management Services, LLC, today announced that the company has purchased 160 Corporate Court in Meriden, Connecticut, for approximately $15 million. The building is the headquarters and main distribution center for sports and outdoor retailers Bob’s Stores and EMS (Eastern Mountain Sports) which are owned by Sports Direct, the largest sports retailer in the U.K.

“This is the first of what we hope will be many investments in Connecticut,” said Mr. Dembitzer (http://www.dembitzer.com/about-alex-dembitzer/). “We love the location of this building and are looking forward to a long-term relationship with Sports Direct, Bob’s Stores, and EMS. We are also planning a number of physical and environmental improvements to the facility, including the installation of solar panels to reduce the carbon footprint of the businesses’ operations.”

The 260,000 square foot facility is fully occupied by Sports Direct, which has a long-term lease in place. The building has served as the headquarters for Bob's Stores since 1991. The facility is well-located at the midpoint between New York City and Boston with easy access to I-91, the Wilbur Cross Parkway (CT Route 15), CT Route 66 and I-691.

“The purchase of the building in Meriden suited our strategic acquisition plan perfectly,” said Marc J. Civitillo, Managing Director for Acquisitions at Sky Management. “We are dedicated to identifying warehouse, distribution, and office buildings that have large footprints that can significantly benefit from our social mission to reduce the environmental impact of our buildings.”

Representing the institutional seller in the transaction was Newmark Knight Frank’s (NKF) Kevin Welsh, Brian Schulz and Jason Emrani of NKF’s Tri-State Capital Markets Team in collaboration with Matt O’Hare from CBRE’s New Haven office.

Sky Management is actively acquiring and developing large industrial, manufacturing, and distribution properties in the Eastern United States. For more information, contact Marc Civitillo at marc@skyrem.com.

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’s combination of creativity and entrepreneurism allows it to develop innovative solutions to maximize property value. To learn more, visit www.skyrem.com.