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MARKHAM, IL-Thor Equities recent expansion program has hit this southwest suburb, where the 260,000-sf Canterbury Shopping Center has been added to the New York-based development and redevelopment company for $11 million. The seller of the asset at 159th Street and Kedzie Avenue, now known as “Gallery at Canterbury,” was Oak Brook-based the Inland Real Estate Group.

The 29-acre site includes an outparcel on 159th Street, where Thor Equities hopes to land a major bank. Before building, though, the center has an 18% vacancy rate despite a tenant roster that includes Fairplay Foods, AJ Wright, Foot Action, Radio Shack, Hollywood Video, Unique Thrift and Burger King.

“The foundation of our corporate philosophy is to offer urban shoppers a diverse selection of high quality retailers in a respectful comfortable atmosphere,” says Thor Equities chairman and CEO Joseph J. Sitt, whose company has been on a $350-million buying binge during the last 18 months. “We set a high standard for the Gallery brand, and Canterbury will achieve that standard.”

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