​DALLAS – Ridge Development, the industrial development arm of Transwestern Development Co., today announces its joint venture with Prudential Financial Inc., called Ridge South Dallas I LLC, has sold a 164-acre site in the Ridge Logistics Center South Dallas to Van Trust Real Estate LLC. Located at the northeast corner of Dallas Avenue and Telephone Road in Lancaster, the tract was sold for an undisclosed amount.

“South Dallas is one of the hottest submarkets in the Dallas-Fort Worth area,” said Kent Newsom, executive vice president at Ridge Development. “The combination of the availability of land, transportation infrastructure and ability to construct big-box developments that provide attractive occupancy costs for large-scale users makes this area prime for real estate development.”

Van Trust Real Estate, which was represented internally in the transaction, plans to develop big-box, speculative bulk industrial buildings on the site. CBRE’s Jack Fraker represented Ridge South Dallas.

ABOUT RIDGE DEVELOPMENT
Ridge Development is the industrial development arm of Transwestern Development Co., a diversified real estate developer with expertise in all commercial property types. Ridge is managed by the former principals of Ridge Property Trust. Ridge Development specializes in industrial development and investment in state-of-the-art warehouse, distribution and manufacturing facilities throughout the United States and Mexico. Based in Chicago, the venture serves North American clients from five U.S. offices and one office in Monterrey, Mexico. The Transwestern Development and Ridge Development teams have developed, constructed and managed more than 138 million square feet of industrial and distribution space.

Media Contact:
Stefanie Lewis
713.272.1266
stefanie.lewis@transwestern.com