Thor Equities has expanded its portfolio to include an office and R&D campus in Berkeley. The $17.5M purchase of 600 Bancroft Way is the company’s first for Berkeley. Newmark Group brokered the deal.

“Berkeley is an ideal location for office and R&D space due to its proximity to the University of California and numerous life science companies, along with easy transportation access to the entire Bay Area,” Thor Equities CEO Joseph Sitt said in a statement.

Long Market Property Partners previously owned the property, which it acquired in 2015, according to its website.

The 48K SF asset has three buildings occupied by Bonneville Labs, Lifelong Medical Care, Blue Current and Lumiphore. The 2.9-acre parcel has a furnished outdoor courtyard and direct access to Aquatic Park. It also is within walking distance of the Fourth Street retail neighborhood.

In addition to being near University of California and Lawrence Berkeley National Laboratory, the property is close to technology, biotech research and pharmaceutical companies such as Bayer Healthcare, Novartis, Grifols and Siemens.

Thor Equities recently purchased two buildings at 130-150 Shoreline Drive in Redwood City for $58M.

The company owns several properties throughout the Bay Area, including 634 Second St., 152 Geary St. and 444 Jackson St. in San Francisco and 19000 Homestead Road in Cupertino. In the East Bay, it owns 385 17th St. in Oakland.