Thor Equities Achieves 100% Occupancy at Midtown Office Property
2024年7月10日 - 4:54AM
Thor Equities Group, a global leader in real estate
development, leasing, and management, is pleased to announce
leases with Citizen M and Tin Drum, Inc., at 25 W.
39th Street in Manhattan. With the addition of these two
tenants, the asset is now 100% occupied.
Citizen M, a fully integrated owner-operator hotel brand with a
presence in 18 cities, has signed a long-term lease for 12,000
square feet on the eleventh floor of Thor Equities’ historic
property. Selected for the property’s ideal location and range of
amenities, Citizen M looks to expand their portfolio and execute
their mission in Manhattan where the brand currently operates two
hotels. The second tenant to sign a long-term lease at 25 W. 39th
Street is Tin Drum Inc., a technology collective encompassing
designers, coders, artists, and scientists. The company will occupy
14,000 square feet on the fourth floor of the property.
Constructed in 1907 as the Engineering Societies’ Building, 25
West 39th Street boasts a rich history and architectural
significance. The property was funded by a $1.5 million
contribution from Andrew Carnegie and once housed one of the
world’s largest engineering libraries as well as a 1,000-seat
auditorium. Members included luminaries such as Thomas Edison and
Nikola Tesla.
“We are excited to announce we have reached full occupancy at 25
W. 39th Street. This achievement reflects the dedication of
our team, and our commitment to delivering high-quality spaces that
promote collaboration and support professional success,” said
Chairman of Thor Equities Group, Joe Sitt.
Thor’s recent activity includes the acquisition of several
industrial assets across the United States and Mexico. In the last
month in the United States, Thor acquired over 350,000 square feet
of modern facilities in the sought-after Texas and New Jersey
markets. In Mexico, Thor acquired 1.6M square feet
in Saltillo and Ramos Arizpe. Thor’s Chairman, Joe Sitt,
spoke again on Bloomberg TV’s Wall Street Week about his
conviction in commercial real estate opportunities across Mexico,
as well as investor interest in light of the recent election.
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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.
Katie Smith
Thor Equities Group
5514867218
ksmith@Thorequities.com