Ramrock Real Estate LLC has acquired Ridgmar Mall, located at 1888 Green Oaks Road in Fort Worth, as first reported by the Dallas Morning News. Ramrock, a Dallas-based private equity firm, also announced plans to redevelop the site as a six-building, 931,000-square-foot logistics hub.
Ramrock is developing the project, known as Ridgmar 30 Logistics Crossing, alongside Dallas-based Lincoln Property Company and Seattle-based KBC Advisors. While some of the stores are expected to remain open in the short term, ultimately the mall will be demolished, a spokesperson with KBC Advisors Texas told the Morning News.
Ramrock, Lincoln Property Co. and KBC Advisors did not immediately respond to Chron’s request for comment by the time of publication.
Ridgmar Mall first opened 50 years ago as Fort Worth’s first fully-enclosed mall, anchored by a Dillard’s, Sears, JCPenney and Neiman Marcus.
The mall was one of the city’s primary shopping destinations in the 1980s and 1990s, according to the Fort Worth Star-Telegram. Its decline accelerated in the 2010s as major retailers began closing and customer traffic dwindled.
Today, most of the mall’s major anchor stores have shuttered, leaving large portions of the property vacant. The JCPenney onsite is set to permanently close on Nov. 1.
An exact timeline has yet to be released.
Demolition of the 1.2 million-square-foot mall could begin within the next 12 to 18 months, developers told CultureMap. Construction of the logistics campus is tentatively scheduled to begin in 2028.