RAMROCK Real Estate’s acquisition of the former Ridgmar property is an initial step to transform it into a 930,960-square-foot logistics campus.
FORT WORTH, Texas — The impending closure of its last remaining anchor store, JCPenney, seems to mark the very last days for Fort Worth’s long-deteriorating Ridgmar Mall.
But while the mall is going away, the property it stands on will continue to be very active.
Real estate developer RAMROCK announced Wednesday its acquisition of Ridgmar Mall and its plans to open what will be called Ridgmar Logistics Crossing at the site located at the northeast corner of Interstate 30 and State Highway 183. Ridgmar Logistics Crossing (RLC) will consist of a six-building, 930,960-square-foot Class A logistics campus at the former mall site.
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In partnership with KBC Advisors and Lincoln Property Company, RAMROCK detailed its plans for the property in a release Wednesday, saying RLC will be an “institutional-quality logistics campus in one of North Texas’ fastest growing corridors” and it will “return a long-underutilized property to productive use while supporting Fort Worth’s continued economic growth.”
The announcement of RLC also detailed that it is being planned out with consideration to its location near Naval Air Station Joint Reserve Base Fort Worth.
“This acquisition represents the culmination of more than two years of engagement with elected officials and other community leaders to assess support for redeveloping the Ridgmar Mall site,” Tony Creme, Partner of KBC Advisors Texas, said in the release.
“The feedback was overwhelmingly positive, and as a result, our collective teams are excited to partner with the City of Fort Worth and Tarrant County to revitalize this blighted site which was once a vibrant hub of social and economic activity in the community.”
RAMROCK says it is working with the City of Fort Worth and Tarrant County on planning and entitlement efforts surrounding business placement on the RLC site and that local officials have expressed support for the project’s potential, which is expected to generate new investment, create jobs and contribute to the area’s long-term economic development goals.
“Ridgmar Logistics Crossing represents an exceptional opportunity to deliver institutional-quality logistics space in one of Fort Worth’s most strategic locations,” said Tom Kuhlmann, executive vice president of industrial for Lincoln Property Company.
Additional details, including construction timing, leasing opportunities and future tenant announcements, will be shared as planning progresses, the release said.