Thor Logis, a division of Thor Equities Group, announced the $12.7 million acquisition of Argentona, Barcelona, a 113,000 s/f s last-mile logistics asset.
The existing asset is within a 20-minute drive to central Barcelona in the Carretera Mataro-Granollers region and is currently leased to global transportation company DSV at a rent of $734,000 per year.
“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, warehouse and office space. The asset has 15 loading bays .
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.