Ridge Development is kicking off a new two-building industrial project in Fort Worth with construction of a 299,000-square-foot industrial facility. Railhead Industrial Park is being developed on 47 acres and will total 642,000 square feet. The project is a joint venture between Ridge and LaSalle Investment Management.
The first building will break ground in the second quarter, with completion expected by the end of the year. It will be built at the southeast corner of North Main Street and East Industrial Road in Fort Worth. The second building, a 343,000-square-foot facility, is being marketed as a build-to-suit.
The project will be one of the few in North Texas with the ability to provide tenants with dual rail service from BNSF Railway and Union Pacific Railroad, said Kent Newsom, executive vice president at Ridge Development.
Low vacancy levels in buildings under 300,000 square feet, along with the limited availability of rail-served product, are leading drivers for moving forward with speculative construction, said Rob Dye, vice president. With 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,” he said.
Trey Fricke and Reid Bassinger of Lee & Associates have been tapped to provide leasing services for the development.