Thor Equities Reaches Major Construction Milestone at Long Island Industrial Facility

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With the Topping Out of 377 Carlls Path, Thor Equities Reinforces Commitment to Best-in-Class Industrial Spaces

New York, NY, April 03, 2025 (GLOBE NEWSWIRE) -- Thor Equities Group, a global leader in urban real estate development, leasing and management, is proud to announce the topping out of 377 Carlls Path, a state-of-the-art 310,500-square-foot Class A industrial facility in Long Island. This marks a significant construction milestone in Long Island's thriving commercial landscape.

Located on 23 acres in Deer Park, Long Island, this premier industrial facility is designed to meet the increasing demands for high-quality, strategically positioned logistics and distribution space. The property's prime location offers direct access to a market of nearly three million residents on Long Island while maintaining seamless connectivity to New York City and the broader metropolitan area. Strategically positioned near major thoroughfares, including the Long Island Expressway and Southern State Parkway, as well as key transportation hubs such as the Long Island Rail Road (LIRR) and major airports including Long Island MacArthur Airport and John F. Kennedy International Airport, 377 Carlls Path is built to optimize logistics efficiency. In late 2024, Thor announced it successfully closed a $68.5 million construction loan secured by ACRES Capital at this address. 

"The topping-out of 377 Carlls Path represents a significant achievement in our mission to create best-in-class industrial spaces that empower businesses,” said Chairman of Thor Equities Group, Joe Sitt. "We are proud to deliver a logistics hub that combines top-tier functionality with superior access to key transportation networks.”

Also, in the industrial sector, Thor recently completed the sale of 280 Richards Street in Brooklyn, an industrial facility developed by Thor and fully leased to Amazon, for $157 Million. In late 2024, Thor completed a successful sale of a premier industrial facility in Laredo, Texas as well, achieving an impressive 180% internal rate of return (IRR). The firm's industrial platform includes properties in key markets in Florida, California, Georgia, Texas, New Jersey, Pennsylvania, and Illinois.

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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

[email protected]