Thor Equities Enters S. Florida With $120M Deal

MIAMI-In a deal valued at $120 million, New York-based Thor Equities acquired two retail centers in South Florida from Transwestern, a Chicago-based advisory firm. The two properties–the 455,000-sf CocoWalk in Coconut Grove section of the city and the 272,000-sf Beach Place in Fort Lauderdale–total 727,000 sf.

“The properties mirror what we’re looking for,” Thor Equities’ director of corporate marketing Carl Reggie tells GlobeSt.com. “Our focus is ethnic urban markets. We’re always cultivating new deals and we try to foster a deal before it comes to market and we were fortunate these properties were available.”

CocoWalk is home to eight restaurants and bars as well as national retailers such as Banana Republic, B. Dalton Booksellers and the Gap. The complex–which was built in 1990 and expanded in 1999–also features a 16-screen AMC Theater multiplex. The center consists of approximately 195,000 sf of retail space and an approximately 260,000-sf parking garage.