New York, NY, March 18, 2022 (GLOBE NEWSWIRE) -- New York, NY – March 17, 2021: Thor Equities Group, a global leader in urban real estate development, leasing and management, is pleased to announce the acquisition of 1211 Tower Road, an industrial property in Chicago’s coveted O’Hare/NW Cook County submarket. Situated on 6-acres, Thor plans to develop a Class A, 109,000 square foot industrial building at the site.
One of Chicago’s top infill suburban submarkets, the Tower Road site is located 30 miles from downtown, and 14 miles from the O’Hare Airport, appealing to tenants with a need for air freight. Situated between two of Chicago’s main interstates, Route 90 and Route 290, the asset is perfectly positioned for users to service a large population as the demand for e-commerce continues to swell. Thor’s construction plan includes top of the market Class A specifications including 32’ clear height, 27 loading dock doors and 2 grade level drive in doors, and 92 auto stalls.
“Thor’s latest acquisition on Tower Road signifies an opportunity to invest in a top-performing market and develop a best-in-class industrial asset. We are longstanding believers in Chicago, as evidenced by our diverse portfolio throughout the city, and are pleased to announce plans for our first ground-up industrial development in the Midwest,” said Chairman of Thor Equities Group, Joseph Sitt.
Thor has been increasingly active in the industrial sector and recently announced the acquisition of a key industrial asset in Northern New Jersey last month. In late 2021, Thor broke into Georgia’s industrial market with the acquisition of an asset in Atlanta and plans to develop a +1M square foot state-of-the-art warehouse in nearby Adairsville. Thor’s logistics portfolio includes high-quality assets and development sites in hubs including New York, Dallas, Philadelphia, Los Angeles, Madrid, Barcelona, Paris, and more.
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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.
