Ridge Development Sells Fort Worth Spec Warehouse
- Sep 12, 2018
Ridge Development, the industrial development arm of Transwestern Development, has sold a 362,000-square-foot speculative warehouse in Fort Worth, Texas, to an institutional investor.
Located at 5180 N. Railhead Road, the property is adjacent to a 300,000-square-foot property that the same investor acquired last year and currently serves as the home of Dematic Corp.
It was back in 2015 when Ridge Development unveiled plans to develop the 642,000-square-foot, dual rail-served industrial park in north Fort Worth, planning for two phases from the start. Both the new and old properties that Ridge sold are located within the 633-acre Railhead Industrial Park.
“This project sold to the same buyer that acquired Phase I in October 2017 because the buyer recognized the successful lease-up of Phase I and the high demand for rail-served industrial space,” Jeff Knowles, Transwestern Development Company’s managing director, told Commercial Property Executive.
A strong appeal
At 21 acres, the new project boasts a 32-foot clear height, 60 trailer parking spaces and 160 car parking spaces. It will offer access to both the BNSF and Union Pacific Railroads.
“We are committed to building high-quality projects in areas with strong demographics that are designed to standards that meet or exceed requirements for sophisticated companies,” Knowles said.
Image courtesy of Transwestern