Apr 2 2015
Ridge Development today announces plans to construct a two-building industrial park on 47 acres in north Fort Worth. The Railhead Industrial Park development is owned by a joint venture between Ridge Development and LaSalle Investment Management.
Ridge Development is constructing a two-building industrial park on 47 acres in north Fort Worth. The Railhead Industrial Park development is owned by a joint venture between Ridge Development and LaSalle Investment Management. Expected to break ground in second-quarter 2015, the first structure is a speculative building totaling 299,000 square feet estimated for completion by year-end. The second building is currently being marketed as a build-to-suit opportunity with a potential 343,000 square feet. Railhead Industrial Park currently has the ability to provide service from the BNSF Railway and has additional capacity for secondary service from the Union Pacific Railroad.
Expected to break ground in second-quarter 2015, the first structure is a speculative building totaling 299,000 square feet estimated for completion by year-end. The second building is currently being marketed as a build-to-suit opportunity with a potential 343,000 square feet.
"We are excited to break ground on our first building in Railhead Industrial Park," said Kent Newsom, executive vice president of Ridge Development. "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."
Railhead Industrial Park currently has the ability to provide service from the BNSF Railway and has 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 multi-tenant 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. "Provided the flurry of big-box development over the last few years, Ridge sees opportunity in smaller, infill product and has focused its attention to these types of developments."
Trey Fricke and Reid Bassinger of Lee & Associates are providing leasing services for the development.
Source: http://www.transwestern.net/