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New York & Tri-State  + New Jersey  + Industrial  | 

Thor Equities Adds to NJ Industrial Property Holdings

Thor Equities Group has acquired a 330,000-square-foot industrial asset in Passaic, NJ. The purchase price was undisclosed, but separately, Seven Hills Realty Trust said it provided a $47-million first mortgage bridge loan on the acquisition.  

Located on 10.7 acres, the 100% leased 153 Linden St. offers proximity to an extensive highway network allowing distribution users to access one-third of the U.S. population within five hours. Additionally, the asset offers direct access to Port Newark.  

“Given the extremely low supply and strong demand for well-connected assets in New Jersey, this acquisition is especially exciting for us as we expand our footprint in the Northeast,” said Thor chairman Joe Sitt.   

153 Linden represents Thor’s third investment in Northern New Jersey in the past year, following acquisitions of a fully leased warehouse at 241 Oraton St. in Newark, and development site at 22 River Rd. in Bogota.  

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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