New York, NY July 12, 2022 – Global real estate leader, Thor Equities Group, and leading Danish Pension Fund, PFA, today announced the acquisition of 12065 Pike Street in Santa Fe Springs; a premier cold storage warehouse fully leased to the world’s largest brewing company, Anheuser Busch.
Thor Equities and PFA have been partnering since 2016 to acquire, develop, and operate best-in-class assets and have established the Thor PFA USA Industrial Fund and Thor PFA European Mixed-Use Fund.
Situated on 8.7 acres, the asset includes two buildings totaling 158,800 square feet and features 16 exterior docks, 25’ clear heights, a 110’ truck court, and excess land for fleet and trailer parking, a rarity in the Los Angeles market. Located in the Mid-Counties submarket of Los Angeles with access to I-5 and I-605, the property is 17 miles from Downtown Los Angeles and 24 miles from the Port of Los Angeles.
“This acquisition offers a rare opportunity to invest in one of the most desirable asset classes and industrial markets in Southern California. Given the proximity to the largest port in the U.S. and accessibility to a large population, the location is ideal for cold storage, and we expect the demand for this specialized asset-type to grow,” said Chairman of Thor Equities Group, Joseph Sitt.
The acquisition represents Thor’s commitment to building a widespread industrial portfolio with new acquisitions in key markets in Georgia, Dallas, New Jersey, Philadelphia, and Chicago in the last year.
Last week Thor acquired an industrial portfolio in Savannah for $49M, the third investment in the state of Georgia in the last nine months. 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. Last month, 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.