Thor Equities Group Secures New Life Science Tenant in Jersey City
July 19 2024 - 9:55AM
Thor Equities Group, a global leader in real estate development,
leasing, and management, is pleased to announce a long-term lease
with IAVI, for 30,000 square feet at 95 Greene
Street in Jersey City, the first lab-ready life sciences property
in Jersey City, NJ.
A nonprofit biotechnology company that develops vaccines and
antibodies, IAVI has made it its mission to translate scientific
discoveries into affordable, globally accessible public health
solutions. Additional tenants at the property include Fork &
Goode, Inc., RegenLabs, and Jersey City Medical Center.
“Our goal in revitalizing 95 Greene Street is to
create a state-of-the-art environment that fuels pioneering
research and supports transformative breakthroughs in science. We
welcome IAVI and are certain they will benefit from the numerous
upgrades we have implemented to achieve such an environment,” said
Chairman of Thor Equities Group, Joe Sitt.
Encompassing 350,000-square-feet over eight
levels, 95 Greene Street previously served as a
manufacturing facility for Colgate Palmolive until 1987 and was
later converted into a Class-A office building occupied by Merrill
Lynch. The property offers abundant power resources served by
multiple utility grids, 13- to 15-foot ceiling heights, secured
interior loading docks, on-site life-safety generator, and flexible
floor plates. Onsite underground parking is available for 125
vehicles. Thor worked with SGA Architects to complete a
comprehensive adaptive reuse project
for 95 Greene Street. Base building work included
extensive upgrades to mechanicals, HVAC, vertical conduits, and a
new rooftop generator. Thor Equities’ life
science portfolio includes two additional life science facilities
in New Jersey; 7 Powder Horn Drive in Warren which is occupied by
Celgene BMS, and The New Jersey Center of Excellence in
Bridgewater, a 784,000-square-foot secure campus leased to life
science companies including anchor tenants Nestlé Health Science,
Ashland, Solaris, and PTC Therapeutics.
Thor’s recent activity includes the acquisition of over 2
million square feet of industrial real estate in the last few weeks
inclusive of facilities in New Jersey, Texas, and Mexico. In New
Jersey, Thor acquired a 180,000 square foot industrial asset in
West Deptford outside Philadelphia, and a 111,500 square foot
industrial asset in Elizabeth, minutes from the largest Port on the
East Coast: The Port of Newark. Further South, Thor acquired a
250,000 square foot, fully leased facility in the thriving border
town of Laredo Texas; and portfolio of 9 assets in Mexico’s
Saltillo and Ramos Arizpe markets exceeding 1.6M square feet.
Thor’s Chairman, Joe Sitt, spoke again on Bloomberg TV’s Wall
Street Week about his conviction in commercial real estate
opportunities across Mexico, as well as investor interest in light
of the recent election.
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About Thor Equities Group
Thor Equities is a leader in the development, leasing and
management of industrial, laboratory, residential, office, hotel
and mixed-use assets in premier urban locations worldwide. The
company operates in major cities around the globe and has a
property portfolio totaling $20 billion with a development pipeline
in excess of 50 million square feet. Thor has a strong presence on
three continents and in addition to its US holdings, the company
has assets in European gateway cities including London, Paris,
Madrid, and Milan, and is the largest developer in Mexico through
its Latin American division with a development pipeline of over 20
million square feet. Thor maximizes returns for institutional
investors by recognizing a property’s potential, reducing operating
expenses, increasing tenant satisfaction, and leveraging market
trends to maintain a long-term competitive edge. For more
information, visit www.thorequities.com.
Katie Smith
Thor Equities Group
5514867218
ksmith@Thorequities.com