Chicago, IL, Sept. 22, 2022 (GLOBE NEWSWIRE) -- Thor Equities Group, a global leader in urban real estate development, leasing, and management, today announced it has signed a lease with Torpedo Expedited at recently renovated truck terminal, 2940 W. 36th Street in Chicago. Thor acquired, refurbished, and fully leased the asset in South Chicago in under one year of ownership.
Located alongside Chicago’s Interstate 55, one of the city’s primary East/West expressways and under twenty minutes from the center of Chicago, the asset offers a 33,000 square foot cross-dock truck terminal on nearly five acres with 56 dock high doors.
“The redevelopment and swift leasing of this asset demonstrates the unrelenting demand for well-located industrial properties. Situated off the I-55 corridor, our asset offers a valuable opportunity to access the primary corridor that serves the central United States which is ideal for Torpedo Expedited’s business,” said Chairman of Thor Equities Group, Joe Sitt.
Also in the Chicago area, Thor is constructing a 108,000 square foot, Class A industrial development in the heart of the O’Hare submarket at 1211 Tower Road in Schaumburg, IL. Located thirty minutes from Chicago’s central business district and 15 minutes from O’Hare International Airport, the development is under a half mile from Meacham and the I-90 Interchange and less than two miles from I-290 and the I-90 four-way interchange. Delivery is expected in 2023.
Thor Equities is deeply committed to building its industrial platform which includes assets in key markets in Florida, California, Georgia, Texas, New Jersey, Pennsylvania, and Illinois in the last year.
Thor’s most recent activity in the industrial sector includes the acquisitions of properties in the sought-after Northern New Jersey, Tampa, and Savannah markets; and a premier cold-storage warehouse in Los Angeles leased to Anheuser Busch. Abroad, Thor recently sold a collection of prime assets across Spain, France, and the Netherlands, and has been especially active building its Spanish logistics portfolio. Earlier this summer, 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.
##
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.
