New 185,000-Square Foot Facility Added to SkyREM Portfolio

I am pleased to announce the recent 185,000-square-foot facility addition to our ever-evolving Fayetteville, North Carolina market portfolio. 880 Technology Drive is an industrial facility that is 100% leased to two credit tenants — a delivery service company and a supply chain solutions provider. Finding an institutional quality industrial property that is fully leased is incredibly rare yet extremely encouraging when strategically planning the future for the Fayetteville marketplace.

Ideally located along I-95 with seamless regional access to I-295, I-74, and I-40, the facility was first built in 1997 and underwent extensive renovations that were completed in 2020. 880 Technology Drive is a cross-docked property featuring 25-foot clear heights and concrete tilt-up construction as well as institutional-quality features, such as ESFR sprinklers, full concrete truck courts, premium dock packages, and abundant trailer parking.

As this is SkyREM’s second acquisition in the Fayetteville market, we are showing our commitment to growing our presence in this critical location. In 2018, we acquired a 920,000-square-foot, state-of-the-art, multi-tenanted warehouse and distribution center with a fully functional loading dock and easy access to I-95, Fayetteville Regional Airport, Fort Bragg, and the Raleigh-Durham metro area.

The Fayetteville marketplace and this particular acquisition strategically aligns with our plans to grow and invest in distribution centers well-situated in strong markets. As part of these plans, we also plan to have two Class A speculative industrial development projects completed by Q1 of 2022. Overall, I am extremely pleased with the SkyREM team for this particular acquisition, and I look forward to growing our portfolio in the Fayetteville market.