8/11/2021 - Thor Equities Group, a global leader in urban real estate development, leasing and management, is pleased to announce the acquisition of the Northeast PhiladelphiaLast Mile Transportation Portfolio in Philadelphia, Pennsylvania. Consisting of five highly functional industrial properties on over 16 acres exceeding 118,500 square feet, the property is leased to elite companies including Amazon, FreshDirect, Galasso Trucking Service, H&M Intermodal, and Romed Ambulance.
Anchored by Amazon in the sought-after Philadelphiamarket, the portfolio provides immediate access to I-95 and NJ Turnpike. Benefitting from multi-directional highway access and a deep labor pool, the mission critical location offers access to over 2 million consumers within minutes.
“The Northeast Philadelphia Transportation Portfolio acquisition marks an important step in the development of our global logistics platform and illustrates our dedication to building a first-class portfolio of high-quality, well-located industrial assets,” said Jack J. Sitt, EVP of Thor Equities Group.
Thor has been bullish in the industrial sector both in the US and abroad, having acquired a 196,300 property in the Los Angeles/Carson submarket in April and leased a warehouse in Brooklyn to Amazon in late 2020. Abroad, Thor acquired seventeen assets between Spain and France and sold a 2.2M square foot portfolio in the UK earlier this year.
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.