In a significant move that highlights Thor Equities’ commitment to growth and excellence in the industrial sector, the company has successfully obtained a $68.5 million construction loan from Acres Capital for the development of a state-of-the-art, 310,500-square-foot Class A industrial facility in Deer Park, New York. According to Jack J. Sitt, Thor Equities’ chief investment officer, this new project underscores the company’s dedication to creating top-tier industrial spaces. The facility, strategically located on 23 acres at 377 Carlls Path, enjoys key logistical advantages, with close proximity to major transport routes such as the Long Island Expressway and Southern State Parkway, and convenient access to Long Island MacArthur Airport and John F. Kennedy International Airport. These features collectively position the new facility as a vital contributor to the economic growth of the Suffolk County region.
Strategic Development and Broader Impact
Thor Equities’ activities in the real estate market have been dynamic, as evidenced by recent developments including a profitable sale in Laredo, Texas, and the acquisition of a significant industrial property near Atlanta. This Deer Park project comes as yet another strategic move in their portfolio, reinforcing their role as a key player in modern industrial real estate development. Despite multiple attempts to seek a comment, Acres Capital did not respond regarding the loan deal. However, the financial backing from a major lender like Acres Capital speaks volumes about the confidence financial institutions have in Thor Equities’ projects. This new facility is expected to not only boost economic growth locally but also exemplify the kind of innovative and quality-driven development that Thor Equities is known for across the United States. The impact of such projects extends beyond mere economic gain, offering new opportunities for employment and business growth in the regions they serve.
