Thor Equities has announced the acquisition of a prime logistics property in Vigo, an industrial hub in the Northwest of Spain, for an undisclosed amount.
The acquisition marks the fifteenth for Thor in Spain in less than twelve months.
Located 10 kilometers from the Portuguese border, the assets in Vigo total 32,158-m2, inclusive of a 14,561-m2 gross lettable area and a 17,597-m2 truck parking lot. Ideally positioned to serve both Portugal and Spain, the property is fully leased to premier tenants including Amazon, fashion and sporting goods manufacturer UDRA, and multinational telecommunication company, Comfica.
‘We are very pleased to be broadening our exposure in Southern Europe with the acquisition in Vigo. A key asset in one of Spain’s highly sought-after industrial markets, the property has strong fundamentals which align with our investment strategy of targeting last-mile locations,’ said Chairman of Thor Equities, Joe Sitt.
This latest acquisition marks the third transaction for Thor in Europe in the past month. In June, Thor announced the acquisition of a warehouse property in the premier Villeneuve la Garenne submarket of Paris, the first in France, and another warehouse fully leased to Acritoma SL, in Moncada Spain.
