SkyREM acquires warehouse from LRN Partners in North Carolina
JLL Capital markets arranged the sale of the fully leased warehouse facility in Fayetteville
CHARLOTTE, April 19, 2021 – JLL Capital Markets announced today that it has closed the sale of 880 Technology Dr., a fully leased, 182,866-square-foot warehouse distribution facility in Fayetteville, North Carolina.
The building is fully leased to two credit tenants, a delivery services company and a supply chain solutions provider. The cross-dock building was completed in 1997 and features up to 25-foot clear heights, 20 dock-high doors, 10 grade-level doors, ESFR fire protection and ample parking.
The JLL Capital Markets team representing the seller was led by Senior Managing Director Pete Pittroff, Managing Director Patrick Nally, Associate Dave Andrews and Analysts Michael Scarnato and Josh McArdle.
“The sale of 880 Technology Dr. further supports the demand for capital to invest in quality logistics assets in markets with strong infrastructure and fundamentals,” Pitroff said. “SkyREM has an incredibly strong market share in Fayetteville and worked through this transaction seamlessly.”
“We want to thank the entire JLL team with facilitating this transaction,” added Marc Civitillo, Managing Director of Acquisitions at SkyREM. “We closed in three weeks, and this could not have been possible without their expedited commitment to getting this deal done. This is a great addition to our growing industrial portfolio”
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge deliver the best-in-class solutions for clients — whether investment sales advisory, debt placement, equity placement or a recapitalization. The firm has more than 3,700 Capital Markets specialists worldwide with offices in nearly 50 countries.
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JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $16.6 billion, operations in over 80 countries and a global workforce of more than 91,000 as of December 31, 2020. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
About Sky Management Corp.
SkyREM, with offices in Philadelphia and in New York City, is a privately funded and managed real estate company that owns and operates a large, diversified portfolio of properties in the United States. As a principal for its own account, Sky is actively acquiring throughout the East Coast. To learn more about SkyREM please visit skyrem.com.