CHICAGO, May 28, 2015 /PRNewswire/ -- Ridge Development, the industrial development arm of Transwestern Development Co., today announces it has broken ground on two buildings in RidgePort Logistics Center for the new headquarters of Consolidated Distribution Corporation (CDC). The foodservice supply chain logistics company is relocating from Lemont and combining five distribution locations into preleased space: a rail-served, 111,244-square-foot freezer build-to-suit and 286,867 square feet of a 574,867-square-foot (expandable to 1,078,867 square feet) ambient distribution facility (Building B). Owned by a joint venture between Ridge and Elion Partners LLC, the buildings are slated for delivery in October 2015.
"Ridge is excited to add CDC to the growing number of companies at RidgePort taking advantage of the location and infrastructure," said Jim Martell, president of Ridge Development. "CDC's new state-of-the-art facilities will allow them to attract additional customers and drive business to RidgePort."
With CDC's arrival, RidgePort will continue to be a major entry point for food and related operations serving the Midwest.
"RidgePort presented a highly attractive opportunity for CDC to reduce expenses while tripling capacity, increasing margins and creating sales opportunities," said Tim Ward, CDC's chief financial officer. "RidgePort's ability to provide first-class facilities at very competitive costs will allow us to meet our growth and expansion targets."
Building B, the 574,867-square-foot ambient distribution facility, has 288,000 square feet of best-in-class space remaining for lease. Featuring a 40-foot clear height, the building is expandable to 1,078,867 square feet. JLL, with Keith Stauber as team leader, is the listing agent for Building B and RidgePort. Alston Construction is the general contractor on both of the new facilities.
RidgePort Logistics Center is a master-planned, 2,500-acre, rail-served industrial park located at the intersection of Interstate 55 and Lorenzo Road in Wilmington, Illinois. RidgePort has 2.5 miles of frontage along I-55 and 2 miles of frontage along the BNSF Railway mainline that runs from the Port of Los Angeles and Long Beach to Chicago. RidgePort maintains a competitive advantage in the marketplace as it has superior on-site infrastructure and proximity to best-in-class regional infrastructure with the BNSF and Union Pacific intermodals. Further, RidgePort provides economic incentive packages to qualified companies, has an Enterprise Zone designation and qualifies as a Foreign Trade Zone. For more information, visit the RidgePort website at ridgeportlogisticscenter.com.
ABOUT RIDGE DEVELOPMENT
Ridge Development is the industrial development arm of Transwestern Development Company, a diversified real estate developer with expertise in all commercial property types. Ridge Development is managed by the former principals of Ridge Property Trust. Ridge Development specializes in industrial development and investment in state-of-the-art warehouse, distribution and manufacturing facilities throughout the United States and Mexico. Based in Chicago, the venture serves North American clients from six U.S. offices and one office in Monterrey, Mexico. The Transwestern Development and Ridge Development teams have developed, constructed and managed more than 138 million square feet of industrial and distribution space.
ABOUT ELION PARTNERS
Elion Partners is a real estate investment firm with a proven track record of acquiring and developing quality properties in strategic locations. Elion provides real estate equity for best-in-class developers and operators. For private and institutional investors, Elion is a trusted source of commercial real estate investments with reliable, risk-adjusted returns. Elion's principals have successfully managed full-cycle investments across a variety of asset types including industrial, office, retail, multi family and mixed-use properties throughout the United States. For more information please visit www.elionpartners.com.
SOURCE Ridge Development