Spain, June 16, 2021 –Thor Equities Group, a global leader in urban real estate development, leasing and management, is pleased to announce the acquisition of a prime logistics property in Vigo, an industrial hub in the Northwest of Spain. The acquisition marks the fifteenth for Thor in Spain in less than twelve months.
Located 10 kilometers from the Portuguese border, the assets in Vigo total 32,158-square-meters, inclusive of a 14,561-square-meter gross lettable area and a 17,597-square-meter truck parking lot. Ideally positioned to serve both Portugal and Spain, the property is fully leased to premier tenants including Amazon, fashion and sporting goods manufacturer UDRA, and multinational telecommunication company, Comfica.
“We are very pleased to be broadening our exposure in Southern Europe with the acquisition in Vigo. A key asset in one of Spain’s highly sought-after industrial markets, the property has strong fundamentals which align with our investment strategy of targeting last-mile locations,” said Chairman of Thor Equities, Joe Sitt.
This latest acquisition marks the third transaction for Thor in Europe in the past month. In June, Thor announced the acquisition of a warehouse property in the premier Villeneuve la Garenne submarket of Paris, the first in France, and another warehouse fully leased to Acritoma SL, in Moncada Spain. In the past year, Thor has acquired high-quality assets throughout Spain in Madrid and Barcelona, comprised of existing warehouses, offices, and development sites in Argentona, Pinto, and Torrejon.
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.