New York, NY, June 09, 2023 (GLOBE NEWSWIRE) -- Thor Equities Group, a global leader in urban real estate development, leasing and management, announced it has signed a three-year lease with all natural sauce brand, Pepper Palace, in Coney Island.
Pepper Palace will occupy 2,500 SF near one of Coney’s Island’s most celebrated landmarks, Nathan’s Famous Hot Dogs. The popular sauce and seasoning brand is set to open this new location on the bustling Stillwell Avenue during the summer of 2023, benefitting from the summer foot traffic.
“Pepper Palace is an exciting addition to Coney Island and we are thrilled that they have selected our property. We are looking forward to welcoming them to the Coney Island community this summer,” said Executive Vice President of Thor Equities Group, Jack J. Sitt.
Coney Island has been a historic mainstay as “America’s Playground” for New Yorkers and tourists alike. Co-tenants at the property include fast-food chain White Castle and trendy candy store IT’S SUGAR. This will be Pepper Palace’s seventh location in New York; they have over 160 locations across the country and Canada.
Thor Equities Group's recent activity includes leases with popular retailer Abercrombie and Fitch and leading athletic retailer Under Armor in Manhattan’s Flatiron District on Fifth Avenue, as well as a long-term lease with leading plasma donation service, Olgam Life, at 135 E. 125th Street in Harlem. The global real estate leader has had notable acquisitions in the industrial sector in California and Georgia. 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.
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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.
