Thor Equities Group Completes Sale of R&D Building in North San Jose for $54M

Thor Equities Group, a global leader in urban real estate development, leasing and management, has announced the sale of 350 Holger Way, a Class-A 98,300 square foot research and development property in the sought-after North San Jose submarket.

Leased to NXP Semiconductors, Thor acquired the asset as part of its growing life science platform for $50.5M in December of 2020. Nearby many of the world’s most prominent tech companies including Google, Microsoft, and Cisco, the asset offers freeway visibility, desirable amenities for tenants, and convenient access to many transportation options for employees.

“With a key location and a first-rate tenant in place, 350 Holger provides an excellent opportunity to invest in a top performing asset class”, said Chairman of Thor Equities Group, Joe Sitt. “We remain dedicated to building a best-in-class portfolio and identifying similar assets across all sectors nationwide.”

Thor Equities’ life science portfolio includes assets in the desirable New Jersey, Maryland, and Massachusetts clusters. Notable transactions in Thor’s life science portfolio in 2022 include the sale of a life science complex in North Carolina for $80M and acquisition of several properties in Maryland for $45M which it plans to convert to life science space. Earlier this year, Thor launched its latest venture, Thor Digital, a division specializing on the acquisition and development of data centers across Europe with an equity commitment of up to US$3 billion and goal of US$9 billion in acquisitions value.