Developer plans $9 million renovation of west Fort Worth office tower along I-30
Wilks Development has purchased One Ridgmar Centre and has plans for significant renovations, the company announced on Monday.
The 10-story office building at 6500 West Freeway, overlooking Interstate 30 near Ridgmar Mall, has about 177,000 square feet of class A office space. Wilks Development purchased the property from Dallas-based Holt Lunsford Commercial, which acquired the building in 2017. Wilks declined to say how much it paid for the property.
The Fort Worth-based developer is also working on a $45 million renovation of the Fort Worth Public Market, which will be home to restaurants and an apartment community for seniors. Construction on the Henderson Street property is expected to be completed in mid-2025.
Wilks Development plans to spend $9 million renovating One Ridgmar Centre. About $1 million will be spent on immediate improvements, including repairing the roof. The remaining $8 million will be spent on work over the next five years.
Built in 1986, about 68% of the building is occupied. Over 30,000 square feet of new leases have been signed since the sale closed, according to Wilks Development.
“With our team’s expertise in repositioning assets and our commitment to meaningful improvements, we are confident that One Ridgmar will achieve full occupancy in the near future,” said Kyle Wilks, president and CEO of Wilks Development.
Founded in 2012, the development firm has embarked on high-profile projects in the Metroplex. In addition to the Public Market restoration, the company is slated to develop Firefly Park, a 160-acre mixed-use urban village in Frisco, expected to open in 2027.
