New York, NY, Jan. 24, 2022 (GLOBE NEWSWIRE) -- Thor Equities Group, a global leader in urban real estate development, leasing and management, is pleased to announce the acquisition of an industrial facility in Newark, New Jersey spanning 131,205 square feet.
Located six miles North of Newark International Airport, and ten miles West of Manhattan, 241 Oraton Street in Newark offers immediate proximity to an extensive highway network and the Port of Newark. The asset’s ideal location allows distribution users to access one third of the US population within five hours. Additionally, the property features a rare 1.5-acre truck court enabling accessory trailer parking. On a total of 5 acres, the asset includes two buildings totaling 131,205 square feet and is 100% leased.
“This latest acquisition represents a rare opportunity to invest in a well-located asset with excellent connectivity. The Northern New Jersey industrial market has performed especially well, and we continue to see great opportunity in the logistics sector in the US and abroad. In recent months we have entered the Atlanta, Chicago, Philadelphia, and Dallas markets and look forward to building on that momentum in 2022,” said Chairman of Thor Equities Group, Joe Sitt.
Thor recently announced the acquisition of an industrial asset in Atlanta and plans to develop a +1M square foot state-of-the-art warehouse in Adairsville, Georgia. Within the last few months Thor has also added properties in hubs including Chicago, Dallas, Philadelphia, and Los Angeles to their growing logistics portfolio. Abroad, Thor acquired seventeen assets between Spain and France and sold a 2.2M square foot portfolio in the UK in 2021.
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ABOUT THOR EQUITIES GROUP:
Thor Equities is a leader in the development, leasing and management of office, industrial, laboratory, residential, 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 18 million square feet. Thor maximizes returns for institutional investors by recognizing a property’s potential, reducing operating expenses, increasing tenant satisfaction, leveraging market trends to maintain a long-term competitive edge. For more information, visit www.thorequities.com.
