SkyREM Announces Lease Renewal with Bob’s Stores and EMS
I’m pleased to announce a second lease renewal this month: Bob’s Stores / Eastern Mountain Sports, located at 160 Corporate Court in Meriden, CT, has renewed its lease of our 241,333-square-foot property. Once again, we owe special thanks to Timothy J. D’Addabbo of Cushman & Wakefield’s in Hartford for representing SkyREM on the lease renewal.
Both Bob’s and EMS have occupied the building since 1991 and are considered institutions in Meriden. In fact, I can’t imagine Corporate Court without them. Both Bob’s & EMS stores, owned by GoDigital Media Group, use the building as their headquarters and distribution facilities, making it crucial for business operations.
The location, between Boston and NYC, makes the property an ideal distribution facility. It’s adjacent to Interstate 91. Routes 15 and 66, and Interstate 95 is nearby as well.
Focusing on Clean and Renewable Energy
SkyREM recently renovated the property through a multi-million capital improvement program, which included the crucial installation of a 1.5 megawatt rooftop solar project. The solar energy system will provide the majority of the site’s electricity without polluting the environment.
When it comes to sustainability, we put our money where our mouth is. Through our sister company, Sky Power, LLC, based in New York and Philadelphia, we invest in and develop clean and renewable energy solutions. We already have four large solar power plants in New Jersey and Connecticut that supply most of the onsite power needs to our tenants. Plus, there are five megawatts operational on the roofs of the buildings under our ownership, with several more in development.
Our tenants love renewable energy systems as they save them a lot of money. We love the good they do for the environment, making them a win-win for all.
Bob’s Stores and EMS
Bob’s Stores is a beloved retailer of apparel, footwear and workwear that was founded in 1954. Today, there are 27 stores throughout the Northeast, and all operate on the principle of treating customers with respect and dignity. Eastern Mountain Sports has been a leading outdoor apparel brand since 1967. There are currently 21 locations throughout the Northeast that offer everything an adventurer needs for their next endeavor.
The Meriden property that hosts Bob’s and EMS is just one of many that SkyREM owns. We have a diverse portfolio of properties throughout the United States, with headquarters in Philadelphia and New York City.
However, we’re always looking for new opportunities! We love renewing leases with trusted partners and also enjoy finding new properties to invest in. For example, earlier this year we acquired our first property in the Midwest — and we look forward to many more.
Marc Civitillo, Managing Director — Acquisitions and James Pancetti, Senior Acquisitions Associate, run an all-star acquisitions department at SkyREM. I’m grateful to have them on my team and always anticipate new opportunities which they’ll find!