New York, NY, May 30, 2023 (GLOBE NEWSWIRE) -- Thor Equities Group, a global leader in urban real estate development, leasing and management, announced it has purchased a multi-building 23-acre warehouse site on Long Island in New York. This is Thor’s first investment in the Long Island market.
The property is located at 377 Carlls Path in the Deer Park neighborhood and is a Class-B warehouse and distribution complex. Originally constructed in 1956 and later renovated in 1995, the property offers excellent proximity to the approximately three million Long Island residents as well as access to the NYC boroughs.
“We are thrilled to add this Deer Park site to our expansive portfolio of properties and we are exploring all options for plans to improve the property,” said Chairman and CEO of Thor Equities Group Joe Sitt. “This area of Long Island is prime for growth and we look forward to the endless potential that this property has to offer.”
There is currently 6.5 acres of undeveloped space, while there are also four separate structures occupying the site, which was purchased through a bankruptcy auction.
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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.
