{"id":1004739251,"date":"2024-12-02T05:07:00","date_gmt":"2024-12-02T13:07:00","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004739251"},"modified":"2024-12-02T05:08:25","modified_gmt":"2024-12-02T13:08:25","slug":"thor-equities-secures-loan-for-miami-retail-center","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/thor-equities-secures-loan-for-miami-retail-center\/","title":{"rendered":"Thor Equities Secures Loan for Miami Retail Center"},"content":{"rendered":"\n<p>Thor Equities Group has secured a $37 million construction loan from ACRES Capital for the 63,000-square-foot Wynwood Walk neighborhood retail center in Miami.<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"alignright size-full is-resized\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/12\/Wynwood-Walk-mall.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"802\" height=\"620\" data-attachment-id=\"1004739264\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/thor-equities-secures-loan-for-miami-retail-center\/wynwood-walk-mall\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/12\/Wynwood-Walk-mall.jpg\" data-orig-size=\"802,620\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"Wynwood Walk mall\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;Wynwood Walk is at 230 N.W. 29th St. in Miami. Image courtesy of CommercialEdge &lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/12\/Wynwood-Walk-mall.jpg?w=802\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/12\/Wynwood-Walk-mall.jpg\" alt=\"Wynwood Walk is a neighborhood retail center in Miami\" class=\"wp-image-1004739264\" style=\"width:400px\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/12\/Wynwood-Walk-mall.jpg 802w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/12\/Wynwood-Walk-mall.jpg?resize=300,232 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/12\/Wynwood-Walk-mall.jpg?resize=768,594 768w\" sizes=\"auto, (max-width: 802px) 100vw, 802px\" \/><\/a><figcaption class=\"wp-element-caption\">Wynwood Walk is at 230 N.W. 29th St. in Miami. <em>Image courtesy of CommercialEdge<\/em><\/figcaption><\/figure><\/div>\n\n\n<p>The funding reportedly will enable the ongoing leasing of the property, whose tenants already include Puttery, Velvet Taco, Sea Saw\/Shinso, Chama De Fogo, Midtown Boba and Collectors Club.<\/p>\n\n\n\n<p>Wynwood Walk is at 230 N.W. 29th St. in Miami, was completed in 1978 and is about 77 percent occupied, according to information provided by CommercialEdge.<\/p>\n\n\n\n<p>Thor Equities has secured more than $100 million in financing with ACRES in the past 30 days. Earlier in November, Thor closed a $68.5 million construction loan for 377 Carlls Path in Deer Park, N.Y. This financing will be used to develop a 310,500-square-foot Class A industrial facility.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity has-very-light-gray-to-cyan-bluish-gray-gradient-background has-background is-style-wide\"\/>\n\n\n\n<p><strong>READ ALSO<\/strong>: <a href=\"https:\/\/www.commercialsearch.com\/news\/the-next-star-of-post-pandemic-recovery\/\">Retail\u2019s Post-Pandemic Recovery<\/a><\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity has-very-light-gray-to-cyan-bluish-gray-gradient-background has-background is-style-wide\"\/>\n\n\n\n<p>Thor has also recently acquired a 270-acre industrial property in metro Atlanta, improved with a 506,220-square-foot facility with a dedicated 100 MVA substation and 50 MW power output. Thor describes the site as having the infrastructure needed for the development of data center or advanced manufacturing space.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-staying-strong\">Staying strong<\/h2>\n\n\n\n<p>Another recent deal, too, evidences the breadth of Thor Equities\u2019 activities. In June <a href=\"https:\/\/www.commercialsearch.com\/news\/thor-expands-with-250-ksf-mexico-border-facility\/\">the company acquired a 250,000-square-foot industrial facility<\/a> in Laredo, Texas. The building was completed in 2023 and is occupied by a customs broker under a five-year lease.<\/p>\n\n\n\n<p>Miami-Dade County\u2019s retail market continues to absorb new construction faster than the admittedly limited quantity of deliveries, according to a third-quarter report from Colliers. Leasing in the latest quarter total 314,000 square feet, versus new supply of just 28,000 square feet.<\/p>\n\n\n\n<p>It\u2019s thus unsurprising that rents are up by 6.3 percent year-over-year, to $46.00 per square foot, triple net. Colliers predicts that current conditions will lead to metro Miami retail property values outperforming the national average.<\/p>\n\n\n\n<p>The Wynwood submarket has a total vacancy of 6.5 percent on an inventory of 2.9 million square feet.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>ACRES Capital provided the financing. <\/p>\n","protected":false},"author":882,"featured_media":1004739264,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21825,1492,21742,21749,32781],"tags":[35498,32776],"class_list":["post-1004739251","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance","category-miami","category-latest","category-retail","category-southeast","tag-colliers","tag-thor-equities"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - 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