HOUSTON — Transwestern Development Co. has entered into a joint venture with the principals from Chicago-based Ridge Property Trust to expand its industrial development in North America, including Mexico.
The joint venture, Ridge Development 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 industrial development.
“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 sf 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.