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.
Situated on approximately 27 acres within the SPA Industrial Park, Thor’s new portfolio totals 524,500 square feet and is five minutes from the nearest Interstate 95 interchange, the main north-south distribution freeway for the East Coast of the United States.
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 broke into Georgia’s industrial market in late 2021 with the acquisition of an asset in Atlanta and plans to develop a 1 million-square-foot warehouse in nearby Adairsville. The company also owns logistics assets in the Northern New Jersey, Chicago, Dallas, Los Angeles and Philadelphia markets.
Internationally, Thor recently sold a collection of prime assets across Spain, France and the Netherlands, and has been busy building out its Spanish logistics portfolio. Additionally, last month, Thor launched its latest venture, Thor Digital, a division specializing in the acquisition and development of data centers across Europe with an equity commitment of up to $3 billion and a goal of $9 billion in acquisition value, according to a release.
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