Chicago – Ridge Development, the industrial development arm of Transwestern Development Co., today announces NAIOP has named Building Bravo in RidgePort Logistics Center the “Industrial Speculative Development of the Year” at the association’s Annual Awards of Excellence. The fully leased, 1.1 million-square-foot distribution center is located in Wilmington, Illinois, just south of the BNSF and Union Pacific Intermodals.
“I’m thrilled with the momentum we’re experiencing at RidgePort,” said Jim Martell, president of Ridge Development. “The team is working hard to carry the success forward into 2017.”
Building Bravo broke ground in December 2014 and delivered in two phases: Phase I being approximately 575,000 square feet and Phase II comprising approximately 504,000 square feet. Consolidated Distribution Corp., a leading food service supply chain logistics company, pre-leased roughly 360,000 square feet of Phase I. Post Consumer Brands LLC, a consumer packaged foods company, leased the remaining 720,000 square feet in the summer of 2016.
RidgePort Logistics Center is a master-planned, 2,500-acre, rail-served industrial park located at the intersection of Interstate 55 and Lorenzo Road in Wilmington, Illinois. RidgePort has 2.5 miles of frontage along I-55 and 2 miles of frontage along the BNSF Railway mainline that runs from the ports of Los Angeles and Long Beach to Chicago. RidgePort maintains a competitive advantage in the marketplace as it has superior on-site infrastructure and proximity to best-in-class regional infrastructure with the BNSF and Union Pacific intermodals. Further, RidgePort provides economic incentive packages to qualified companies, has an Enterprise Zone designation and qualifies as a Foreign Trade Zone.
At RidgePort, approximately 4 million square feet is built with an additional 2.3 million square feet under construction. The park has capacity to accommodate roughly 15 million square feet of additional industrial, warehouse and logistics buildings. In addition to CDC and Post Consumer Brands, existing tenants include Michelin, Batory Foods and a Fortune 500 consumer brands company. A full-service Petro Travel Plaza provides refueling, dining options, truck queuing, truck washing and truck maintenance.
“It’s been really exciting to see the park take shape over the years and the wealth of opportunity that has come with it,” said Wilmington Mayor Marty Orr. “RidgePort has certainly been a vital step in enhancing the region.”
ABOUT RIDGE DEVELOPMENT
Ridge Development, the industrial arm of Transwestern Development Company, is a leading provider of corporate real estate development and investment in state-of-the-art warehouse, distribution and manufacturing facilities throughout North America. Ridge’s principals have been involved in the development, construction, ownership and management of more than 125 million square feet of institutional quality real estate and have an average 25 years of experience in the real estate industry. Ridge is based in Chicago, with regional offices across the U.S. in Los Angeles, Dallas, Atlanta and Houston.