New York, NY, Jan. 11, 2023 (GLOBE NEWSWIRE) -- Thor Equities Group, a global leader in urban real estate development, leasing, and management, today announced it has signed a lease with leading American sports equipment and apparel retailer, Under Armour, at 139 Fifth Avenue.
Founded in 1996 by former University of Maryland football player, Kevin Plank, Under Armour has since grown to a global company with over twenty offices throughout North America, Europe, Asia, and Latin America. Designed to empower athletes, the brand’s performance apparel, footwear, and accessories are available at 15,000 retail locations worldwide. At 139 Fifth Avenue in the Flatiron District, Under Armour will occupy a total of 6,750 square feet across the ground floor and lower level and benefit from 30 feet of frontage on Fifth Avenue.
“We are pleased Under Armour has selected 139 Fifth Avenue for their latest location. As one of the most influential and recognizable brands in the sports world, Under Armour is perfectly suited for Manhattan’s sought-after Flatiron District and we cannot wait to see what innovative products they choose to showcase at this location,” said Executive Vice President of Thor Equities Group, Jack J. Sitt.
Thor Equities has been actively building its logistics platform with notable acquisitions in California and Georgia in the past two months. In 2022, Thor acquired a mix of high-quality industrial facilities, development sites, and outdoor storage properties in Atlanta, Dallas, Northern New Jersey, Philadelphia, and Chicago. Abroad, Thor recently sold a collection of prime industrial assets across Spain, France, and the Netherlands, and has been especially active building its Spanish logistics portfolio. Also in 2022, Thor launched its latest venture, Thor Digital, a division specializing on the acquisition and development of data centers across Europe with an equity commitment of up to US$3 billion and goal of US$9 billion in acquisitions value.
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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.
