New York, NY (PRWEB) September 08, 2015
New York City based real estate investment firm Sky Management Services, LLC has announced the closing of a 400,800 square foot industrial facility in Atlanta, GA and a 152,310 square foot office complex located in Langhorne, PA. Both acquisitions closed at the end of August.
The Atlanta acquisition is a single-tenant facility, net leased to Kittrich, LLC under a new 10+ year lease. This is the first investment in the Atlanta market for Sky Management. The Langhorne investment, better known as Oxford Court Business Center, is a nine building complex adjacent to the Oxford Valley Mall and the family theme park, Sesame Place. The complex features a very strong mix of national and regional tenants from traditional office users to medical office users.
Marc Civitillo, Acquisitions Officer at Sky Management, adds that “We are very pleased to announce the recent single-tenant acquisition in Atlanta as well the Oxford Court Business Center acquisition in Langhorne. Both investments further enhance the diversification of our portfolio and are consistent with our acquisition strategy of purchasing well located assets with strong real estate fundamentals.”
Jon Zich, Senior Advisor at Sky Management, commented “The Oxford Court Business Center investment represents a significant opportunity for a number of reasons, including a strong in-place NOI with significant upside through lease-up and the Atlanta single-tenant net leased investment gives our portfolio stable and predictable cash flows.”
Sky Management, which is focused on the acquisition and management of office, industrial, flex and multi-family properties, has acquired six properties in 2015 totaling approximately 1.25 million square feet. Among the earlier transaction in 2015, Sky Management closed on Northridge Business Center, a 174,000 square foot office/industrial facility located in Charlotte, NC; The ZPI Portfolio, a 218,000 square foot, three property flex portfolio located in Charlotte, NC; and The Waterford Crystal/Wedgewood Fine China North American Headquarters, a 300,000 square foot class “A” office/warehouse facility located in Wall Township, NJ.
Mr. Civitillo further commented “We continue to aggressively seek the right properties that fit our portfolio and add value to our company. We make quick decisions, are reliable, and can close all cash.”
About Sky Services, LLC
Sky Management Services, LLC 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. Both as a principal for its own account, and in selected circumstances, as a third party asset manager, Sky’s combination of creativity and entrepreneurism allows it to develop innovated solutions to maximize property value. To learn more, visit http://www.skyrem.com.
For additional information please contact:
Marc J. Civitillo
SKY Management Services, LLC
425 East 52nd Street
New York, NY 10022
T - (212) 888-6920 ext.12