SkyREM, LLC Records Successful Half-Year 2021 Amidst the Pandemic

It has been a great year for us so far at SkyREM, LLC. Despite several issues involving the pandemic, we have been very active in selling, leasing, acquiring assets, and purchasing land to grow our portfolio. We are excited to report that our company has made unprecedented progress and achievements during the first half of 2021.

Overview

In brief, we have effectively established our presence in active real estate markets across Virginia, North Carolina, South Carolina, and Pennsylvania. New acquisitions under our portfolio include both industrial facilities and commercial properties totaling over 800,000 square feet and almost 600 acres of land.

Property Acquisitions

Among our property acquisitions were a necessary retail pharmacy as well as warehouse and manufacturing facilities, which total over 800,000 square feet of industrial assets.

Our CVS pharmacy acquisition is located in the Society Hill neighborhood of Philadelphia, PA. It is an 11,000-square-foot property located adjacent to the ACME Markets grocery store that has been owned by SkyREM since January 2020. It is in a great area, which is also in the historic “Old City” that houses monuments such as Independence Hall and the National Constitution Center.

Our warehouse facility acquisition, 880 Technology Drive, is a 185,000-square-foot last mile industrial facility located in Fayetteville, NC. The building is located strategically along I-95 with accessibility to major transportation routes, including I-295, I-74, and I-40. Other attractive features within the facility include great-foot clear heights, ESFR sprinklers, and premium dock packages.

We also acquired a 236,000-square-foot industrial logistics facility located in Fort Lawn, South Carolina and a 300,000-square-foot manufacturing facility located in Martinsville, Virginia. We plan to upgrade both properties by repairing and/or replacing their parking lots, roof, HVAC, and plumbing systems.

Land Acquisitions

Our affiliate, Beekman Farms, LLC, expanded its existing 254-acre site by acquiring an adjacent 80 acres of land. This new acquisition greatly increases the property’s accessibility via its direct access route to Sylvan Lake Road.

We have also obtained approval for the purchase of 515 acres of land in Fayetteville, North Carolina. This acquisition includes 356 acres in Cedar Creek Industrial Park adjoining Clark West Road and 159 acres on Sand Hills Road and Production Drive in the Cumberland Industrial Center.

Solar Energy and Renewables

Our wholly owned affiliate, Sky Power, LLC, www.skypwr.com, also completed two large rooftop solar installations in Connecticut for two large corporate customers to add to our growing C and I renewables portfolio. We also have plans to acquire and develop many more solar and renewable power systems and to build many more new fully integrated systems in our existing portfolio and in properties which we are currently developing.

Property Sales

We have completed the sale of Arcade Square, a multi-tenanted, single-story office building located in Charlotte, North Carolina. The 60,000-square-foot property was nearly 100% occupied at the time of sale, making it a very successful project.

New Leases

We have been making a great deal of progress in our redevelopment of “The Quartermaster” in Philadelphia, www.quartermasterphl.com, doing many improvements and issuing new leases to great tenants, such as Premier Physical Therapy, JC Consulting, and many more. The new redeveloped facility serves a multitude of new and much needed uses such as outpatient examination, full-scale physical therapy and rehabilitation, creative office, biotech space, national security, and public safety. The new leasing brings a welcome diversification to the Quartermaster Campus as part of our long-term redevelopment plan designed to meet the needs of today and tomorrow on our 23-acre urban and historic campus.

Sponsorships

We were very proud to have been a platinum sponsor of the Ezer Mizion event at the 11th annual Swing for Life Golf and Tennis Tournament and to have introduced many of our friends and business associates to the organization so that they could participate and contribute. The event was held on Monday, July 26th, 2021, and raised more than $400,000 through entry fees, charitable donations, and sponsorships. All of the proceeds will go towards Ezer Mizion’s bone marrow donor pool to continue their life-saving bone marrow transplant work. The organization has directly helped save more than 4,000 people to date.

Conclusion

It has been a fantastic year for us at SkyREM, LLC as we look forward to implementing the many plans that we have set forth for the rest of 2021 and the beginning of 2022. I am so appreciative of the great team with whom I am proud to work every day.