Thor Equities Group Accelerates Industrial Growth with Latest Acquisition
July 15 2024 - 11:21AM
Thor Equities Group, a global leader in urban real estate
development, leasing and management, is pleased to announce the
acquisition of a 180,000 square foot industrial asset in New Jersey
for $25.6M. This latest acquisition represents the eighth
industrial acquisition in the New York metro area for Thor, and
fourth industrial acquisition overall within the last month.
Situated on 8.6-acres in West Deptford, New Jersey, 1370
Imperial Way offers immediate proximity to the Philadelphia
metropolitan area and is located less than two hours from both New
York City and Baltimore. Directly off of I-295 and under twenty
minutes from the Port of Philadelphia and Philadelphia
International Airport, the asset features ideal connectivity and
offers users the ability to access more than 50 million consumers
within one day. The facility also includes approx. 5,000 square
feet of office space, 22 dock high doors, 23’ clear heights, and
offers rail access.
“We are pleased to announce the substantial expansion of our
industrial portfolio in recent weeks. Collectively, our new
acquisitions exceed 2 million square feet of premier facilities in
strategic markets like Philadelphia, representing our confidence in
the industrial sector. We believe this asset will enhance our
portfolio’s performance and look forward to showcasing our asset
management and development capabilities,” said Chairman of Thor
Equities Group, Joe Sitt.
Also in the Philadelphia market, Thor owns 4219 Richmond Street
which consists of five highly functional industrial properties on
over 16 acres exceeding 118,500 square feet. Thor’s additional
industrial holdings in New Jersey include recently acquired 556-600
Progress Street in Elizabeth, 153 Linden Street in Passaic, 241
Oraton in Newark, and 14-22 River Road in Bogota, which the firm
recently restored rail access to. Also in the Northeast, Thor owns
two assets in New York and one in Philadelphia. The firm has
amassed a widespread industrial portfolio with holdings in other
key markets in California, Georgia, Texas, and Illinois in the US;
and Spain, France, the UK, and the Netherlands abroad.
Thor’s recent activity includes the acquisitions of a 111,500
square foot facility in Elizabeth, New Jersey, 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.
###
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 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