Joe Sitt reclined in his office wearing the sly little smile of someone who knows something more than we do.
“Another retailer that we represent asked us if we could find them a space in Tehran,” he said.
Mr. Sitt seemed fascinated, not appalled (Mr. Sitt’s family is Syrian Jewish) or the least bit bewildered by the request.
“So many of the European retailers are operating stores in Iran,” the head of Thor Equities explained to The Commercial Observer. “We’re a little bit in a bubble in the U.S. Adolfo, Desigual, Mango, Diesel, I don’t remember which ones, but two out of four already have stores there. [In] Saudi Arabia, Mango already has 50 stores there. I have another request for Equador. Zara wants more stores in Venezuela. I’ve had requests for Russia. Those are some of the examples that show you the world is changing.”
Mr. Sitt can relate to clients like these, which he caters to through a relatively new arm of his real estate empire, a brokerage business called Thor High Street.
He too ventured off the beaten path to get where he is today; by many accounts one of the city’s most prolific and successful investors with a focus on retail properties.