Skip to main content

Thor Equities Group Continues Industrial Expansion with Strategic Sale Leaseback in New Jersey

Written by Customer Service on . Posted in Mergers And Acquisitions.

New York, NY, June 12, 2024 (GLOBE NEWSWIRE) — Thor Equities Group, a global leader in real estate development, leasing and management, is pleased to announce the successful completion of a sale-leaseback transaction in New Jersey for $18.3M. This latest acquisition represents the sixth industrial acquisition in the New York metro area for Thor.

Located on 3.8-acres in Elizabeth, New Jersey, 556-600 Progress Street offers immediate proximity to the Port of Newark, the largest port on the East Coast; as well as Newark Liberty International Airport and I-95. The 111,500 square foot facility is fully leased and features 6,000 square feet of office, three loading docks, two drive-ins, a .60-acre outdoor storage yard, and 16’-22’ clear heights.

 “Our investment in this property underscores our conviction in the enduring strength of the industrial market,” said Founder and Managing Director of Thor Logis, Jack J. Sitt. “With this acquisition and sale leaseback arrangement, we gain a greater foothold in the sought-after New Jersey market and demonstrate our commitment to maximizing value for stakeholders.”

Thor’s additional industrial holdings in New Jersey include 153 Linden Street in Passaic, 241 Oraton in Newark, and 14-22 River Road in Bogota, which the firm recently restored rail access to. Thor has amassed a widespread industrial portfolio with holdings in key markets in New York, California, Georgia, Texas, Pennsylvania, and Illinois in the US; and Spain, France, the UK, and the Netherlands abroad. Thor has successfully executed multiple sale leaseback transactions across its industrial platform, ensuring the continued operation of assets.

Thor’s recent activity includes the firm’s push into the data center sector which CEO and Chairman, Joe Sitt, discussed on CNBC’s Squawk on the Street show. Mr. Sitt discussed the voracious appetite for new technology driving the demand for data centers and interest from investors. Thor’s Chairman also spoke on Bloomberg Markets last month to discuss Electreon, the leading provider of wireless charging solutions for electric vehicles; as well as inflation, luxury retail, and opportunities across the evolving real estate market.  

###

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.

CONTACT: Katie Smith
Thor Equities Group
5514867218
ksmith@Thorequities.com

Disclaimer & Cookie Notice

Welcome to GOLDEA services for Professionals

Before you continue, please confirm the following:

Professional advisers only

I am a professional adviser and would like to visit the GOLDEA CAPITAL for Professionals website.

Important Notice for Investors:

The services and products offered by Goldalea Capital Ltd. are intended exclusively for professional market participants as defined by applicable laws and regulations. This typically includes institutional investors, qualified investors, and high-net-worth individuals who have sufficient knowledge, experience, resources, and independence to assess the risks of trading on their own.

No Investment Advice:

The information, analyses, and market data provided are for general information purposes only and do not constitute individual investment advice. They should not be construed as a basis for investment decisions and do not take into account the specific investment objectives, financial situation, or individual needs of any recipient.

High Risks:

Trading in financial instruments is associated with significant risks and may result in the complete loss of the invested capital. Goldalea Capital Ltd. accepts no liability for losses incurred as a result of the use of the information provided or the execution of transactions.

Sole Responsibility:

The decision to invest or not to invest is solely the responsibility of the investor. Investors should obtain comprehensive information about the risks involved before making any investment decision and, if necessary, seek independent advice.

No Guarantees:

Goldalea Capital Ltd. makes no warranties or representations as to the accuracy, completeness, or timeliness of the information provided. Markets are subject to constant change, and past performance is not a reliable indicator of future results.

Regional Restrictions:

The services offered by Goldalea Capital Ltd. may not be available to all persons or in all countries. It is the responsibility of the investor to ensure that they are authorized to use the services offered.

Please note: This disclaimer is for general information purposes only and does not replace individual legal or tax advice.