Growing up, Jennifer Wagner’s father was a residential real estate broker. Eventually he started his own brokerage and appraisal company and ran it out of their home. Wagner would accompany him to properties and help inspect and take measurements. As she got older, his business evolved into subdividing and selling vacant land parcels. Her father would do the earthwork himself, would often take her along, and she’d help where she could clearing brush, planting trees, or sometimes riding along with him in his machinery.
“Being from Wisconsin, it was a natural progression for me to attend the University of Wisconsin – Madison and enroll in their Real Estate program,” Wagner said, now Senior Vice President | Central Region at Ridge Development Company.
“It was, and still is, one of the top Real Estate programs in the country. Coming out of school, I was fortunate enough to take a job with a small industrial development company, then known as Ridge Property Trust. I’ve been with Ridge for nearly 10 years now, and grown along with it, to what it is now known today as Ridge Development Company.”
10 year later, the driving force keeping her in the industry—besides loving what she does—is that she really enjoys how each deal is different.
“Every property has different advantages that set it apart, and different weaknesses that you must mitigate,” she said. “Every tenant that you work with has different needs, and it is up to you to understand them, and provide the best solution for them. Every day is different, and I am always learning. It’s important to me to be in an industry where I feel that I am continuing to grow both personally and professionally.”
It’s no surprise that her parents have been a big influence in her life—Wagner calls them her biggest mentors— as her father taught her to work hard and treat people with respect, and her mother has also been very influential.
“He has always been someone that I go to for advice. Now that I’ve been in the business a while, we can talk about projects that we are working on and occasionally he will ask me for my opinion, which means a lot to me. My mother worked the swing shift at a paper factory for many years when I was young. She eventually took over the management of my Dad’s business and still does to this day.”
Wagner said seeing how hard she has worked over the years has really shaped her work ethic.
“In the industry, Jim Martell, President of Ridge Development Company, has been a key driver in my success. I have had to opportunity to watch him navigate countless deals, working closely with him for nearly 10 years and I am still learning from him each day.”
The biggest lesson Wagner’s learned is to have patience.
“No deal happens overnight,” she said. “Working on value-add deals takes time, and it takes months, or years, to see them through. When I started with Ridge nearly ten years ago, we were under contract on our first parcel of land in what is now our RidgePort Logistics Center in Wilmington, Illinois.”
She continued, “As we were assembling the 1,500 acres that we own today and going through the entitlement process, the economic downturn came along and we had to wait patiently for tenants to begin actively taking new space again. It wasn’t until last year that we signed our first lease for a 50,000 square foot rail-served temperature-controlled Transload building. Then this year we signed Michelin to 1.7 million square feet and things are really picking up.”
The Michelin deal is one of the largest industrial deals in recent memory, and according to Wagner, really substantiates RidgePort as a compelling player in the freight movement and logistics sector in Will County.
“RidgePort is also home to the TransCold Express, a hub-to-hub refrigerated boxcar service that runs bi-directionally between Wilmington, Illinois, and Selma, California that started service in June of this year. TransCold Express presents produce growers, and meat and dairy producers, the opportunity to distribute products more cost-effectively and provides a valuable link to all U.S. destinations.”
Ridge Development Company’s ability to understand that a tenant’s needs go well beyond four walls and a roof, is what Wagner says sets them apart from other companies.
“We try to create a benefit for our tenants to improve their operations by providing supply chain efficiencies through real estate,” she said. “We see rail as a key component of creating these efficiencies and therefore we look for locations near rail hubs.”
“Transportation via railroad can save money over the cost of trucking and is more environmentally friendly,” she added. “One boxcar holds the same volume as four trucks, making it more fuel efficient. As rising fuel prices, government regulations, and driver shortages make it more difficult to transport products long distances via truck, rail is becoming a more viable alternative.”
Overall Wagner really enjoys the connections she makes with people in the market.
“Each deal requires so much collaboration whether it is with brokers, lenders, attorneys, architects; you are all working together with the same goal of a successful transaction. Over the years you create enough connections that it feels like you are part of a community. It is always nice to meet new faces as well and welcome them into the community. It makes what you do so much more meaningful.”
The only thing is she wishes that there were more women in the industrial real estate field.
“Of all of the product types,” she said. “I think that industrial is one of the most heavily male-dominated ones. I think it is such an interesting product type, and unfortunately it is one in which women are not well-represented. That is why groups like IWIRE are so important to foster collaboration, and education through the development of a network of women in industrial real estate.”
When she isn’t working, Wagner loves traveling, and enjoys experiencing new cultures, and learning about the history of the places that she visits.
“I had the opportunity to study abroad in Paris and was able to travel around Europe while I was there. It was such an amazing experience. My boyfriend and I will be traveling to Berlin, Prague and Munich this month. We are looking forward to learning about the history and culture there, especially Germany where my father’s grandparents were born. We are also excited about attending Oktoberfest!”
Her boyfriend Michael, her family, and her work on the Auxiliary Board of One Hope United—a human services organization dedicated to strengthening families and protecting children—are what’s most important to her.
“I met my boyfriend Michael almost three years ago at a Wisconsin Badgers football game, and I don’t know what I would do without him! We enjoy riding our bikes around the City and exploring new neighborhoods together.”
“I love spending time with my parents at their lake house in Wisconsin. I also have two sisters with whom I am very close. My younger sister and I live in the same apartment building, so we make it a point to get together at least once a week. My older sister lives about 30 minutes outside of the City with her husband and three children. I try to see my niece and nephews as often as I can because I have so much fun with them.”
“Our mission at the Auxiliary Board of One Hope United is to raise awareness and funds for the programs of One Hope United. We are such a small part of what the organization does but it is so rewarding to visit the children and families that are served by these programs and see what a difference they make.”
Growing up an hour from Green Bay left her little choice in the matter, but with football season underway, Wagner is proud to call herself a Cheesehead!
“I am a huge fan of football and the Green Bay Packers are my team,” she said. “Every year I go to the home opener at Lambeau Field with my parents. I even traveled down to Dallas for the2010 Super Bowl! I am also the commissioner of our office fantasy football league, which I am still hoping to win one of these years.”
