Thor Equities Group Acquires Savannah Industrial Portfolio for $49M
Thor Equities Group has acquired an 11-asset portfolio in Savannah, Ga. Commercial Observer can first report.
Thor’s latest investment spans 524,500 square feet across 27 acres of the SPA Industrial Park, and in close proximity to I-95 for ease of distribution.
The buildings are nearly 100 percent leased to tenants including S&M Transport, Trans Republica, Pactra Logistics, CRS, Thunder Logistics and others.
“This latest investment represents our drive to expand our industrial footprint in the US, and our strategy to acquire and develop high-quality properties in top-tier infill locations,” Joseph Sitt, chairman of Thor Equities Group, said in prepared remarks. “Savannah has become the dominant port for the Southeastern United States, and so this is a key addition to our platform.”
Thor made its Georgia debut in 2021, acquiring 4411 Bibb Boulevard, an industrial asset in Atlanta’s Stone Mountain-Tucker area. The firm also plans to develop a 1 million-square-foot warehouse in Adairsville, Ga., roughly one hour from Atlanta.
Separately, the company has been keeping busy building out a logistics portfolio in Spain, recently acquiring a Coca-Cola bottling plant with plans for a data center at the site, according to IPE Real Assets. Thor also launched Thor Digital with a focus on both purchasing and developing data centers in Europe, according to a release. At the time this article went to press, Thor had $3 billion in equity commitments for the new venture, and a plan to amass $9 billion in new acquisitions.
Update: This story originally misattributed source material. This has been corrected. We apologize for the error.
Emily Fu can be reached at efu@commercialobserver.com.
