HOUSTON, March 26, 2014 /PRNewswire/ -- Transwestern Development Co.'s Houston headquarters today announced it 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 ("Ridge"), 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 P. 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.
ABOUT RIDGE DEVELOPMENT
Ridge Development is a joint venture between Transwestern Development Company, a diversified firm with an expertise in all commercial property types, and the principals from 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 TRANSWESTERN DEVELOPMENT COMPANY
Transwestern Development Company is a diversified business with expertise and experience in all commercial property types. The firm executes projects through a variety of venture and contract structures and has been creating commercial landmarks for itself, its partners and valued customers throughout the U.S. since 1978. Transwestern Development Co. operates as a principal, investing capital alongside its institutional equity partners in the development of speculative and build-to-suit projects, and as a fee developer for clients and user-owners. The company has amassed valuable experience in construction, design, sustainability, leasing, acquisitions, finance and asset management. As a member of the Transwestern family of companies, the firm capitalizes on the market insights and operational expertise of its affiliates, which include a diversified real estate services firm with 34 U.S. offices and a real estate investment management company. Please visit TranswesternDevelopment.net for more information.
ABOUT THE TRANSWESTERN FAMILY OF COMPANIES
The Transwestern family of companies is comprised of organizations specializing in diversified real estate services, investment advisory and project development. The privately held, fully integrated enterprise leverages competencies in office, industrial, retail, multifamily and healthcare properties to add value for investors, owners and occupiers of commercial real estate. Transwestern facilitates better decision-making for clients by combining real-time, macro-market research with penetrating local market intelligence. The services firm has 34 U.S. offices, and assists clients through more than 181 offices in 40 countries as part of a strategic alliance with Paris-based BNP Paribas Real Estate.