New York, NY, Sept. 13, 2022 (GLOBE NEWSWIRE) — Thor Equities Group, a global leader in urban real estate development, leasing and management, is pleased to announce the acquisition of a 330,000 square foot industrial asset in Passaic, New Jersey. This latest acquisition represents the fourth industrial investment in the past month in the United States 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 throughfares, 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’ and 27’ clear heights.
“Located in one of the best performing industrial markets in the nation, 153 Linden Street offers users a rare opportunity to access millions of consumers on the East Coast in record time,” said Chairman of Thor Equities Group, Joe Sitt. “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,” said Chairman of Thor Equities Group, Joe Sitt.
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, Thor acquired a 13-asset industrial portfolio in Tampa, 11-asset industrial portfolio in Savannah, and 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 U.S.; and Spain, France, the UK, and the Netherlands abroad. 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.