New York, NY, Dec. 21, 2022 (GLOBE NEWSWIRE) -- Thor Equities Group, a global leader in urban real estate development, leasing, and management, announced it has signed a long-term lease with leading American retailer, Banana Republic, for 8,500 square feet across three levels in the sought-after Union Square neighborhood.
Founded in San Francisco in 1978, Banana Republic was acquired by international corporation Gap Inc. in 1983 and is known for its classic and sophisticated style of apparel and accessories. With locations across North America, the brand uses the finest materials for its modern pieces and has been devoted to sustainability and bettering communities worldwide.
“We are pleased to welcome Banana Republic to 152 Geary Street. Founded in San Francisco, the classic brand has a meaningful connection to the city and recognizes the property’s excellent location is ideally situated to serve its clientele,” said Chairman and CEO of Thor Equities, Joe Sitt.
Approximately 2,800 square feet remains available on the third floor which features its own dedicated entrance on Maiden Lane totaling 500 square feet.
Thor Equities has been focused on building a diverse portfolio across all sectors with recent acquisitions of premier industrial assets worldwide. Thor’s additional holdings in California include industrial properties at 10516 Commerce Way in Fontana, 12065 Pike Street in Santa Fe Springs, and 2575 El Presidio Street in Carson. The aforementioned assets encompass a combined 440,000 square feet leased to tenants including Anhuser Busch and Texollini. Last month, Thor acquired its fourth industrial property in the state of Georgia with the procurement of a 40-acre parcel in Adairsville. In addition to California and Georgia, Thor is active in key industrial markets in New Jersey, Texas, Pennsylvania, and Illinois in the US; and Spain, France, the UK, and the Netherlands abroad. Earlier this year, 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.
