DALLAS, March 15, 2016 (GLOBE NEWSWIRE) -- Ridge Development, the industrial development arm of Transwestern Development Co., today announces it will break ground in second-quarter 2016 on Park 20/360, a speculative, 1,605,620-square-foot industrial park at the northwest corner of Interstate 20 and State Highway 360 in Arlington, Texas. This premier location feeds into the Great Southwest Industrial District, one of the largest individually platted industrial districts within the U.S., and lends itself to local, regional and national users. The 119-acre project is owned by a venture between Invesco and Ridge Development.
A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/1676da3d-a955-4cb3-8d71-88e76c243754
“The confluence of a thriving Texas economy with continuing solid fundamentals, record-setting occupancy within the Great Southwest Industrial District, a diverse commercial make-up in Dallas-Fort Worth and an outstanding location warrant the development of such a large project on a speculative basis,” said Kent Newsom, executive vice president at Ridge Development. “Park 20/360 is divided into three different types of space to accommodate multiple industrial user types including bulk distribution, warehouse and flex.”
Phase I will consist of four buildings totaling 1,249,560 square feet and is expected to deliver in first-quarter 2017. Phase II, also comprising four buildings, will total 356,060 square feet. It is scheduled to break ground in third-quarter 2017 with full delivery expected in second-quarter 2018. Transwestern’s Vice President Joe Rudd and Principal John Brewer are providing leasing services.
The Park 20/360 site is located inside a Triple Freeport Tax Exemption zone and is a gateway location within the Great Southwest Industrial District, which consists of more than 100 million square feet of distribution and manufacturing space. The site is approximately 18 miles from the Dallas-Fort Worth International Airport and is in close proximity to the Arlington Highlands lifestyle center, AT&T Stadium and Globe Life Park in Arlington.
Park 20/360’s buildings will accommodate users from 20,000 square feet to 715,000 square feet. The building breakdown is as follows:
- Building I (Phase I) – cross-dock building totaling 711,360 square feet with 36-foot clear heights, 284 parking spaces and 180 trailer parking spaces
- Building II (Phase II) – rear-load building totaling 127,140 square feet with 32-foot clear heights, 111 parking spaces and 23 trailer parking spaces
- Building III (Phase I) – rear-load building totaling 203,320 square feet with 32-foot clear heights and 231 parking spaces
- Building IV (Phase I) – rear-load building totaling 191,360 square feet with 32-foot clear heights and 224 parking spaces
- Building V (Phase I) – front-load building totaling 143,520 square feet with 32-foot clear heights, 186 parking spaces and 28 trailer parking spaces
- Building VI (Phase II) – rear-load building totaling 143,530 square feet with 32-foot clear heights and 148 parking spaces
- Building VII (Phase II) – single-user building totaling 36,000 square feet with 32-foot clear heights and 58 parking spaces
- Building VIII (Phase II) – single-user building totaling 49,400 square feet with 32-foot clear heights and 59 parking spaces
Selected consultants on the project include:
- Architect: Alliance Architects Inc.
- Civil engineering: Pacheco Koch Consulting Engineers Inc.
- Geotechnical and environmental: Professional Services Industries Inc. (PSI)
ABOUT RIDGE DEVELOPMENT
Ridge Development is the industrial development arm of Transwestern Development Co., a diversified real estate developer with expertise in all commercial property types. Ridge 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. Ridge serves North American clients from five 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.