101 Wolf Drive in Thorofare — Courtesy: Sky Management Services LLC
By Joshua Burd
A retail technology firm has extended its 104,000-square-foot lease at a Gloucester County office building, whose owner is now embarking on $10 million in upgrades at the property.
The landlord, Sky Management Services LLC, recently announced the 10-year lease extension with Checkpoint Systems at 101 Wolf Drive in the Thorofare section of West Deptford. The building, which is just outside Philadelphia, has been home to Checkpoint’s headquarters since 1994.
NAI Mertz represented Sky Management Services as the leasing agent for the property, while Binswanger Cos. represented Checkpoint Systems, a subsidiary of CCL Industries Inc.
Alex Dembitzer, Sky Management’s founder and CEO, said the lease extension is tied to a plan to modernize the building. The landlord is funding the renovations, which are scheduled for completion in 2018.
Through its affiliate company, Sky Power LLC, the owner will also install a solar energy system to help Checkpoint produce nearly all of its electric consumption from renewable sources. Sky Management has also purchased an adjacent parcel, making it possible for Checkpoint to expand in the future if needed or for Sky Management to pursue additional development opportunities.
“The renovations at Checkpoint will modernize the facility,” Dembitzer said, “and the renewable energy solar project will reduce their carbon footprint while converting the property into a sustainable facility.”
Checkpoint uses the location to facilitate its North American distribution, research and development and office operations. According to its website, the firm specializes in merchandise availability solutions for the retail industry, with a focus on areas such as loss prevention, merchandise visibility and inventory management.
The long-term extension and modernization will preserve more than 150 jobs in southern New Jersey and create an estimated 100 construction jobs.
“We are delighted to partner with Sky Management Services on the modernization of this facility, this project allows us to create a State of the Art Technology Development Center for Intelligent Retail Solutions,” said John Dargan, president of Checkpoint Inc. “It also allows us to significantly reduce our carbon footprint through the installation of a solar energy system.”