Thor Equities Group Continues Industrial Expansion in Greater Los Angeles Market
New York, NY, Dec. 01, 2022 (GLOBE NEWSWIRE) -- Thor Equities Group, a global leader in urban real estate development, leasing and management, is pleased to announce the acquisition of an 83,227 square foot industrial asset in the West Inland Empire, California for $30.25M. This latest acquisition represents the third industrial acquisition in the Greater Los Angeles region for Thor.
Located on 3.8-acres in Fontana, California, 10516 Commerce Way offers excellent proximity to an extensive highway network in the West Inland Empire with proximity to the Port of Los Angeles and Port of Long Beach and access to one of the largest consumer bases in the US. The facility is 100% leased and features 24’ clear heights.
“Located in the West Inland Empire, one of the strongest industrial submarkets in the entire nation, 10516 Commerce Way offers users a rare opportunity to access millions of consumers on the West Coast in record time,” said Chairman of Thor Equities Group, Joe Sitt. “Given the low supply and robust demand for well-connected assets in the Inland Empire, this acquisition is especially exciting for us as we expand our footprint in Southern California.”
Thor’s additional industrial holdings in Southern California include 12065 Pike Street in Santa Fe Springs and 2575 El Presidio Street in Carson. The aforementioned assets encompass a combined 355,000 square feet leased to tenants Anhuser Busch and Texollini respectively. Earlier last month, Thor acquired its fourth industrial property in the state of Georgia with the procurement of a 40-acre parcel in Adairsville. Thor has amassed a widespread portfolio with holdings in key markets in New Jersey, California, Georgia, 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.
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.
CONTACT: Katie Smith