HOUSTON – Locally-based Transwestern Development Co. and Chicago-based Ridge Property Trust have come together in a joint venture.
The partnership will expand Transwestern's industrial development platform by focusing on development of warehouse, distribution and manufacturing facilities, as well as the acquisition and development of green-field properties, and the redevelopment of buildings.
“Transwestern is pleased to strengthen its industrial development platform with Ridge, which will expand and enhance the services we provide clients,” says Larry P. Heard, CEO of the Transwestern family of companies, in a statement. “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.”
The joint venture, named Ridge Development, plans to enter a wide variety of cities throughout the Northeast, Southeast and Pacific Northwest, in addition to Mexico City. It will be led Jim Martell and Dennis Rice, principals from Ridge Property Trust.
Transwestern was unable to be reached for comment. GlobeSt.com will update as the story develops.
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