New York, NY, March 01, 2023 (GLOBE NEWSWIRE) — Thor Equities Group, a global leader in urban real estate development, leasing, and management, today announced it has signed a long-term lease with iconic American apparel and accessories retailer, Abercrombie & Fitch, at 139 Fifth Avenue in Flatiron.
Abercrombie & Fitch was founded in 1892 and has since grown to be one of the world’s leading specialty retailers through its five popular brands including abercrombie kids, Hollister, Social Tourist, and Gilly Hicks. With 770 stores in operation across North America, Europe, Asia, and the Middle East, Abercrombie & Fitch is committed to creating comfortable, quality collections of apparel and accessories. At 139 Fifth Avenue in Flatiron, Abercrombie & Fitch will occupy a total of 6,750 square feet across the ground floor and lower level and benefit from 30 feet of frontage on Fifth Avenue.
“The Flatiron District is one of New York City’s most coveted destinations and Abercrombie & Fitch is a fantastic addition to the area’s shopping scene. Their decision to open their second location in Manhattan at 139 Fifth Avenue is representative of the neighborhood’s allure and we cannot wait to see what they have planned,” said Executive Vice President of Thor Equities Group, Jack J. Sitt.
Thor Equities’ recent activity includes a long-term lease with leading plasma donation service, Olgam Life, at 135 E. 125th Street in Harlem, and notable acquisitions in the industrial sector across the nation. In 2022, Thor acquired a mix of high-quality industrial facilities, development sites, and outdoor storage properties in Los Angeles, Atlanta, Dallas, Northern New Jersey, Philadelphia, and Chicago.
Last month, Thor Equities’ Chairman, Joe Sitt, made a guest appearance on Fox Business to discuss the highlights and challenges facing markets worldwide. With Varney & Co., he discussed a changing ‘world order’ due to a tremendous wave in onshoring, as well as demand for real estate across different asset classes from Dubai to San Francisco, and economic benefits expected to hit the Southeastern United States. Please visit Fox Business for his full segment.
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.