Thor Equities Group Continues Industrial Expansion
This latest acquisition of industrial space in Passaic, NJ, represents the fourth industrial investment in the past month following acquisitions in Los Angeles, Savannah and Tampa.
NEW YORK CITY — Thor Equities Group, a global leader in urban real estate development, leasing and management, has acquired a 330,000-square-foot industrial asset in Passaic, NJ. This latest acquisition represents the fourth industrial investment in the past month following acquisitions in Los Angeles, Savannah and Tampa.
Located on 10.7 acres in Passaic, New Jersey, 153 Linden Street offers proximity to an extensive highway network allowing distribution users to access one-third of the U.S. population within five hours.
Additionally, the asset is located less than five minutes from Route 21, one of Northern New Jersey’s main North/South thoroughfares, thirteen miles north of Newark International Airport, and most importantly offers direct access to the second largest port in the United States, Port Newark. The 330,000-square-foot facility is 100% leased and features 16-foot and 27-foot clear heights.
“Located in one of the best performing industrial markets in the nation, 153 Linden St. offers users a rare opportunity to access millions of consumers on the East Coast in record time,” Thor Equities Group chairman Joe Sitt said in a prepared release. “Given the extremely low supply and strong demand for well-connected assets in New Jersey, this acquisition is especially exciting for us as we expand our footprint in the Northeast.
153 Linden Street represents Thor’s third investment in Northern New Jersey in the past year, following acquisitions of a fully leased warehouse at 241 Oraton Street in Newark, and a development site at 22 River Road in Bogota.
Last month, as GlobeSt.com previously reported, Thor acquired a 13-asset industrial portfolio in Tampa and a premier cold-storage warehouse in Los Angeles leased to Anheuser Busch. Thor has amassed a widespread portfolio with holdings in key markets in California, Georgia, Texas, Pennsylvania, and Illinois in the US; and abroad in Spain, France, the UK, and the Netherlands. In addition, 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 in the acquisition and development of data centers across Europe with an equity commitment of up to US$3 billion and a goal of $9 billion in acquisitions value.