New rail-served industrial park planned in Fort Worth
Written by William C. Vantuono, Editor-in-ChiefRidge Development plans to construct a two-building industrial park on 47 acres in north Fort Worth, the company announced on April 1, 2015.
The first structure of the Railhead Industrial Park development, which is owned by a joint venture of Ridge Development and LaSalle Investment Management, is a speculative building totaling 299,000 square feet that is expected to break ground in second-quarter 2015 and is slated 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 BNSF Railway and has additional capacity for secondary service from Union Pacific,” Ridge Development said. “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 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-Forth 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 past 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.
