SkyREM Announces Lease Renewal with Fosdick Fulfillment
I’m delighted to announce that Fosdick Fulfillment Corp. has renewed its lease for our industrial property in Meriden, CT. The property spans 358,000 square feet and is located at 550 Research Parkway. Special thanks to Timothy J. D’Addabbo of Cushman & Wakefield’s Hartford office, who represented SkyREM on the lease renewal.
Fosdick Fulfillment Corp. is a global logistics company and we’re delighted to continue our working relationship. Founded in 1965, Fosdick Fulfillment has a long history of providing excellent services. Today, it specializes in direct response television, internet Ecommerce, print advertisements, sweepstakes, and rebates.
Our Meriden location is ideal for a global logistics company to use as a regional distribution facility given its prime location between Boston and New York City.
The Meriden property 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.
Implementing Technology for a Sustainable Future
We recently renovated the facilities that Fosdick Fulfillment Corp. will be using through a multi-million capital improvement program. The main purpose of the renovation was the installation of a 1.5 megawatt rooftop solar project, which will provide most of the site’s electric needs from non-polluting solar energy.
As a real estate investor, owner, and developer, SkyREM realizes the need for a sustainable future to ensure the wellbeing of humanity and our beautiful green planet. Through our sister company, Sky Power, LLC, based in New York and Philadelphia, we focus on investing and developing solar energy systems and other clean energy solutions.
We currently have four large solar power plants — two in New Jersey and two in Connecticut — that supply most onsite power needs to the tenants who rent these extremely large facilities. We already have five megawatts installed and operational on the roofs of the buildings under our ownership, and many more are in development.
Sustainability isn’t only an environmental goal we strive to achieve, but has practical advantages for our tenants. Namely, renewable energy systems can lower their electric bills significantly. We’ve found that many of our partners want to implement sustainable changes, but don’t have the experience or know-how to do so. We help them by deploying large amounts of capital in the field of renewables and sustainability, as well as investing in this field on our own.