SkyREM’s Fayetteville, NC Industrial Development Project is Nearing Completion
I am very excited to announce that SkyREM is nearing the completion of our development project in Fayetteville, North Carolina. We broke ground only a few months ago, during the summer of 2022. Today, the building is approaching shell status, i.e., the basic building services will be installed and the construction completed.
Upon completion, the facility will include 36’ clear heights, 16 dock high doors, LED lighting, ESFR (early suppression fast response) fire protection systems and other state-of-the-art features.
We aim to complete our 125,000-square-foot industrial development project by the first quarter of 2023. It will then be available to manufacturers, warehouses, eCommerce, high-tech industrial users, and more.
Its strategic location is ideal for distributors in all industries, as it is located right next to I-95. It’s a few minutes’ drive from the Fayetteville Regional Airport, Fort Bragg and Pope Air Force Base.
The Prime Location of Fayetteville, NC
As many of you know, SkyREM started out as a real estate developer in the Northeast United States, purchasing properties in New York, New Jersey, Pennsylvania, and Connecticut. Over the years, we’ve expanded to the Mid-Atlantic, the Midwest, and the Southeast. Today, we actually have the most properties in the Southeast!
Fayetteville, of course, falls into the latter category, and we view it as an ideal location for SkyREM’s real estate expansion. The city was named the All-America City three times and has the largest metropolitan area in southeastern North Carolina. It’s a hub for shops, cafes, restaurants, and entertainment. Last year, Forbes called it a “city on the rise.”
Fayetteville is also home to Fort Bragg, a major U.S. military base, which generates billions of dollars a year for the city’s economy.
Another benefit is its location: midway between New York and Miami on the I-95 Corridor and a few hours from the East Coast’s largest ports.
In Development: Rooftop Solar Energy System to Reduce Carbon Emissions
During the next few months, SkyREM’s sister company, Sky Power, will install an advanced, custom-made commercial ESG rooftop solar energy system. ESG, an acronym for Environmental, Social, and Governance, is a concept and metric that companies use to evaluate their environmental impact.
The system will generate most of the electricity at discounted prices for the tenants, allowing them to cut costs and carbon emissions at the same time.
Sky Power, LLC, based in New York and Philadelphia, was created specifically to invest in and develop clean and renewable energy solutions. We already have four large solar power plants in New Jersey and Connecticut and five megawatts on the roofs of the buildings under our ownership, with several more in development.
Looking Toward the Future
Our Fayetteville industrial development project is an addition to our 1.2M portfolio in the real estate market. We look forward to continuing to scout out new opportunities for real estate in prime locations across the East Coast. Earlier this year, we also acquired property in the Midwest — a first for our firm, but likely not the last.
As 2022 comes to an end, we are proud of what we’ve accomplished and look forward to a great year ahead.