4C — June 8 - 21, 2018 — Pennsylvania — M id A tlantic Real Estate Journal
www.marejournal.com
P ennsylvania A four building flex complex
Philadelphia’s Sky Management purchases the Cheshire Properties with 210,000 s/f of flex space
HILADELPHIA, PA, CHESHIRE, CT — Sky Management Services, LLC with offices in Philadelphia and in New York has purchased 611- 617 West Johnson Ave. in Cheshire, CT. This property is a four building flex complex totaling 210,000 s/f , with all four buildings adjacent to one another. “We are pleased to acquire our third property in Con- necticut, which is extremely well located with a distin- guished tenant roster,” said Alex Dembitzer , founder of P
Sky Management Services. A tenant very important to Sky for its positive social impact is Abilities Without Boundaries. AbilitiesWithout Boundaries is a non-profit that helps individuals with intellectual and develop- mental disabilities lead a more productive and fulfilling life. “In an effort to further our positive social impact, we have agreed to expand Abilities Without Boundar- ies by doubling their current space as well as making a significant grant to the orga- nization to assist in fulfilling
their important mission,” said Dembitzer. Additionally, Sky plans to add a rooftop solar project to the site, in conjunction with its Meriden, CT solar project. ‘’We are excited to collaborate with our corporate tenants to collectively reduce our carbon footprints and further sup- port the goal of sustainability and resiliency; this project is in addition to five large solar projects currently being de- veloped by Sky,’’ said Erich Schwer , Sky’s renewable en- ergy acquisitions team lead. Cheshire is a strong market for industrial and flex proper- ties. The Cheshire Properties are located halfway between Hartford, CT and New Ha- ven, CT and a few minutes away from I-84, which con- nects Cheshire to the rest of New England and the tri- state area. make the move within the next year. The project provides the company 30% more space than they currently have, and is expected to retain 10 existing jobs and create 15 full-time jobs within the next three years. “We’re excited about the prospect of consolidating the various operations we have and building the staff in Whitehall Township,” Shamsi said. Coretech International, cur- rently based in a 5,000 square foot facility in Alpha, N.J., will move into an existing 12,000 square foot facility in Allen- town. The additional space will allow the company to grow and increase current production ef- ficiencies. Coretech International’s six employees will be moving to the new facility, and the project is expected to create an additional three jobs within three years, according to the state. “We are grateful that Gooch Thermal Systems and Coretech International have chosen to locate and expand their opera- tions in the Lehigh Valley,” said Don Cunningham, president & CEO of LVEDC. “We are thank- ful for their investment in our community and for helping our manufacturing base continue to grow.” Colin McEvoy is direc- tor of communications at Lehigh Valley Economic Development Corp. continued from page 2C Changes to PA’s Flagship Econ. . . .
611-617 West Johnson Ave.
246+-ACRES bordering STATE FOREST provides some of the finest LONG RANGE RIFLE HUNTING! • Camp facility with water & septic • Overlooks stocked RESERVOIR • Frontage on JUNIATA RIVER • Plentiful mountain springs • MILES of trail network • Abundant WILDLIFE • Established food plots • 3200 feet of road frontage • 15 MIN to downtown Lewistown • 40 MIN to State College • 1 HR to Harrisburg REP ONSITE: JUNE 2 & 9. 12-2 PM
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