11:08 AM
Sky Management Services, LLC, a privately held commercial real estate investment, development and management company, has announced the selection of Newmark as exclusive leasing agent for its newly acquired, multi-tenanted warehouse and distribution facility on 107 Tom Starling Road in Fayetteville, North Carolina. The new industrial listing assignment for the approximately 1 million-square-foot facility will be leased by Newmark’s Senior Managing Director Tommy Turner and Executive Managing Director James Belcher.
Located near the Interstate 95 corridor, the 120-acre property’s ownership is supporting the city’s revitalization efforts through high-quality job creation and a significant donation to the Airborne & Special Operations Museum Foundation. Sky Management through its affiliate, Northern Charitable Foundation, will support the Airborne Special Operations Museum as a “Lifetime Benefactor.” The company announced its pledge today at the Fayetteville Cumberland Economic Development Corporate luncheon.
The $23 million museum serves as the cornerstone of the downtown Fayetteville revitalization plan. The total military population of Fayetteville is 60,000 military personnel; most relate to Fort Bragg, home of The Airborne and Special Operations Forces.
“Our team is committed to investing in markets that have a strong dedication to defense, Homeland Security and the armed forces. It’s a true honor to contribute to the Airborne & Special Operations Museum and to bring new business and high-quality jobs to Fayetteville,” said Alex Dembitzer, founder of Sky Management Services.
Sky Management recently signed a 100,000-square-foot lease with Landair Logistics, Inc. 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. Newmark’s Turner and Belcher represented the tenant Landair.
“We have enjoyed working with Newmark during our latest signing with Landair and we look forward to working with them on leasing the remainder of the building,” said Civitillo.
Landair will occupy 11 percent of the building. Ellery Homestyles, a leading supplier of private label and home fashion products, is the building’s 484,310-square-foot anchor tenant. Approximately 342,000 square feet remains available for lease.
“The completion of the lease with Landair reflects the strong industrial momentum we’re seeing in North Carolina,” said Turner. “The well-located facility with highly reputable tenants, 32 foot clear ceilings, a generous parking ratio and abundant loading offers an ideal opportunity for companies looking to relocate in a growing submarket like East Fayetteville.”
Sky Management Services acquired the building in July 2018. The building is strategically located on the Interstate 95 corridor and four miles from the Fayetteville Regional Airport. In addition, the building is in close proximity to Fort Bragg, the world’s largest military installation, and to the Raleigh-Durham metro area.
About Newmark
Newmark (“Newmark”), operated by Newmark Group, Inc. (“Newmark Group”) (NASDAQ: NMRK), is one of the world’s leading and most trusted commercial real estate advisory firms, offering a complete suite of services and products for both owners and occupiers. Together with London-based partner Knight Frank and independently-owned offices, Newmark’s 16,000 professionals operate from approximately 430 offices on six continents. Newmark’s investor/owner services and products include investment sales, agency leasing, property management, valuation and advisory, diligence, underwriting, government-sponsored enterprise lending, loan servicing, debt and structured finance and loan sales. Occupier services and products include tenant representation, real estate management technology systems, workplace and occupancy strategy, global corporate services consulting, project management, lease administration and facilities management. For further information, visit www.ngkf.com. Newmark Group is a publicly traded subsidiary of BGC Partners, Inc. (“BGC”) (NASDAQ: BGCP), a leading global brokerage company servicing the financial and real estate markets.
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