Ridge Development has announced plans to construct a two-building industrial park on 47 acres in north Fort Worth.
Railhead Industrial Park, as the project is known, is owned by a joint venture between Ridge Development and LaSalle Investment Management.
Groundbreaking for the first structure, a speculative building encompassing 299,000 square feet, is expected to occur in second-quarter 2015, with the building reaching completion by year’s end. The second building is currently being marketed as a build-to-suit space with a potential 343,000 square feet.
“The planned speculative development has the capacity to provide tenants with dual-rail service and will be one of the only buildings in the Dallas-Fort Worth market providing such capability,” said Kent Newsom, executive vice president of Ridge Development, commenting in a news release.
Railhead Industrial Park is expected to provide service from BNSF Railway with additional capacity for secondary service from the Union Pacific Railroad. Planned for the southeast corner of North Main Street and East Industrial Road, the first building will offer flexibility for single- or multitenant usage with storage and distribution space from 75,000 square feet to 299,000 square feet.
“The low vacancy levels in buildings under 300,000 square feet coupled with the limited availability of rail-served product in Dallas-Fort Worth are leading drivers for Ridge to commence its speculative development,” said Rob Dye, vice president of Ridge Development, also commenting in the news release.
Providing leasing services for the development are Trey Fricke and Reid Bassinger of Lee & Associates.
Ridge Development is the industrial development arm of Transwestern Development Co., a diversified real estate developer managed by the former principals of Ridge Property Trust.
Transwestern Development Co. is a diversified business with experience in all commercial property types. More information is available at www.TranswesternDevelopment.net.