Thor Equities Strengthens Portfolio with High-Power Acquisition
New York, NY, Aug. 07, 2024 (GLOBE NEWSWIRE) — Thor Equities Group, a global leader in real estate development, leasing and management, is pleased to announce the acquisition of a 270-acre site in LaGrange, Georgia for data center development. This premier property comes equipped with high-capacity industrial utilities and boasts significant in-place power capacity, making it a standout asset in the Greater Atlanta Metro area. This latest acquisition is the fifth for Thor’s portfolio in recent weeks and marks a significant expansion in Thor’s presence in the data center sector.
Thor’s new asset includes a 506,220 square foot facility with a dedicated substation capable of 100 MVA transformation, and 50 MW of in-place power output. The site is fully equipped with transformers, water, sewer, and natural gas infrastructure in place, allowing for immediate development of a state-of-the-art data campus. LaGrange is also recognized for its investment-friendly environment and supportive stance for business growth, further enhancing the asset’s prospects for success.
“We firmly believe in the growth potential of data centers, driven by the demand for AI technologies, cloud computing, and more influential factors. The increasing reliance on digital infrastructure further strengthens our conviction and reinforces our confidence, making this acquisition particularly exciting. Georgia is recognized as one of the most sought-after markets, and our property’s substantial power capacity and utilities position it as one of the most coveted sites in the Southeast,” said Chairman of Thor Equities Group, Joe Sitt.
“This property offers an opportunity to leverage cutting-edge technology and infrastructure to build a data center that will drive innovation in the sector and region. We are exploring opportunities for a strategic partnership to develop a state-of-the-art facility and look forward to showcasing our expertise and capabilities,” said EVP CIO of Thor North America, Jack J. Sitt.
Thor Equities is committed to the data center industry through its dedicated platform, Form8tion. This platform is spearheaded by a team of seasoned experts who bring decades of experience from top-tier companies, including Google and Ark Data Centers. Form8tion utilizes this expertise to address today’s hyperscale demand and offers products from powered land through to turnkey data centers. Thor Equities entered the data center market with its first investment in Spain. The firm is under construction on ‘Madrid One,’ a strategically located campus in Spain’s capital city. This project will provide over 60,000 m² of technical space and support a total IT load exceeding 100MW.
Thor’s recent activity includes the acquisitions of two industrial facilities in New Jersey totaling 291,500 square feet; a 250,000 square foot, fully leased facility in the thriving border town of Laredo Texas; and portfolio of 9 assets in Mexico’s Saltillo and Ramos Arizpe markets exceeding 1.6M square feet. Thor Equities’ Chairman, Joe Sitt, discussed the firm’s activity in Mexico and how the recent presidential election in Mexico is reshaping investment strategies on Bloomberg’s Wall Street Week earlier this summer. The firm has amassed a widespread industrial portfolio with holdings in key markets in New Jersey, New York, California, Georgia, Texas, Pennsylvania, and Illinois in the US; and Spain, France, the UK, and the Netherlands abroad.
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About Thor Equities Group
Thor Equities is a leader in the development, leasing and management of industrial, laboratory, residential, office, hotel and mixed-use assets in premier 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 20 million square feet. Thor maximizes returns for institutional investors by recognizing a property’s potential, reducing operating expenses, increasing tenant satisfaction, and leveraging market trends to maintain a long-term competitive edge. For more information, visit www.thorequities.com.
CONTACT: Katie Smith Thor Equities Group 5514867218 ksmith@Thorequities.com
