Transwestern Development Co. has entered into a joint venture with the principals from Chicago-based Ridge Property Trust to expand its industrial development platform.
The joint venture, Ridge Development, will provide full industrial development services for Transwestern, its clients and financial partners. Ridge will focus on the development of warehouse, distribution and manufacturing facilities; the acquisition and development of green-field properties; and the redevelopment of existing buildings and brownfield sites.
Utilizing its logistics expertise, Ridge will also target opportunities in core markets near large population centers and major transportation hubs throughout North America. The venture is led by industry veterans Jim Martell and Dennis Rice, principals from Ridge Property Trust, who together have more than 60 years of experience in the industrial development arena.
“Transwestern is pleased to strengthen its industrial development platform with Ridge, which will expand and enhance the services we provide clients,” said Larry Heard, CEO of the Transwestern family of companies. “Jim, Dennis and the Ridge team will meet the growing demand for bulk warehousing and industrial facilities in key logistics markets with multiple transportation linkages.”
Together the Transwestern Development and Ridge teams have been involved in the development, construction and management of more than 138 million square feet of industrial and distribution space throughout the U.S. and Mexico. Through the venture, Ridge has offices in Atlanta, Chicago, Dallas, Houston, Los Angeles and McAllen, Texas, as well as an international office in Monterrey, Mexico.
The joint venture’s expansion plans include entering additional U.S. cities in the Northeast, Southeast and Pacific Northwest and adding an office in Mexico City. Through its integration with the Transwestern family of companies, Ridge will have access to market intelligence, product sourcing and fully integrated property services in 34 markets across the U.S.