Ramrock Real Estate LLC, a Dallas-based real estate investment firm, announced the purchase of the Ridgmar Mall property in Fort Worth on Wednesday, Aug. 5, and plans to turn it into the Ridgmar 30 Logistics Crossing.
Rendering
The Fort Worth mall that anchored local shopping in the 1980s and ’90s is headed for demolition to make way for a massive warehouse development. Here’s what area residents need to know about the timeline, the buyer and what remains open in the meantime.
Here are key takeaways:
Dallas-based Ramrock Real Estate LLC has purchased the Ridgmar Mall property and plans to convert it into a 930,960-square-foot development called Ridgmar 30 Logistics Crossing.The six-building project will sit at the northeast corner of Interstate 30 and Texas 183, with Ramrock partnering with KBC Advisors and Lincoln Property Company.Demolition is not set to start for another 12 to 18 months before demolition begins, as developers continue conversations with tenants still operating inside.A logistics center is essentially a large warehouse used for supply chain operations, and KBC Advisors partner Tony Creme confirmed the development will not include data centers, though specific tenants have not yet been identified.The JCPenney at Ridgmar will permanently close later this year, leaving Dillard’s as the last original anchor store from the mall’s 1976 opening, according to JCPenney Media Relations.Macy’s closed at Ridgmar in 2016, and Sears and Neiman Marcus later shuttered their locations, while a Cinemark movie theater remains open at the mall.Previous redevelopment efforts by GK Development in 2015 and In Place Design in 2017 failed to revitalize the mall, which was once one of Fort Worth’s primary shopping destinations throughout the 1980s and ’90s.
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