Thor Expands Global Industrial and Logistics Footprint with Acquisition of Last-Mile Asset in Northeast Barcelona
Thor Logis, a division of Thor Equities Group, a global leader in urban real estate development, leasing and management has announced the acquisition of Argentona, Barcelona, a 10,500 square meter last-mile logistics asset. The total purchase price was €10.7 million. The existing asset is within a 20-minute drive to central Barcelona in the Carretera Mataro-Granollers region and is currently leased to DSV at a rent of €58.80 psm (€618k pa).
“This acquisition will significantly expand our presence in Spain,” said Chairman & CEO of Thor Equities, Joe Sitt. “We recognize the critical role logistics plays in the current economy and are pleased to add a collection of high-quality assets to our portfolio and look forward to identifying new opportunities and hope to invest further in Southern Europe.”
The portfolio also included a building renovation and 10,300 square meters of high-quality warehouse space and approximately 200 square meters of offices. The asset also includes 15 loading bays and a ground clearance of 10 to 14 meters, ideal for a premier logistics facility.
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.
