Sky Management Buys $18M Industrial Building in CT

Neighboring the company's first purchase in the state, the 358,000-square-foot manufacturing and warehouse property houses key facilities for Fosdick Fulfillment Corp. and Medline.

By Beata Lorincz

550 Research Parkway and 160 Corporate Court in Meriden
550 Research Pkwy. (foreground) and 160 Corporate Court in Meriden, Conn.

Sky Management Services LLC has purchased its second industrial asset in Meriden, Conn., for $18 million. The property houses one of Medline’s mission-critical manufacturing facilities, along with an important warehouse for Fosdick Fulfillment Corp., a global logistics company.

The 358,000-square-foot building is located at 550 Research Pkwy., on the southeastern outskirts of the city, adjacent to Interstate 91. The 25.2-acre site is suitable for various uses, such as e-commerce, light manufacturing or distribution.

Neighboring properties

The building neighbors Sky’s other distribution and office asset at 160 Corporate Court, which the company acquired in February for $15 million. Each of the two properties will receive upgrades of two megawatt solar installations.

“This is our largest purchase in Connecticut to date in terms of square footage, and it showcases our commitment to the state,” said Alex Dembitzer, founder of Sky Management, in prepared remarks. “We see the potential to expand our solar power program here to help the companies reduce their carbon footprints and supply the majority of their onsite electrical consumption while improving the community surrounding the building.”

Image via Google Maps

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