Portfolio News Oct 11, 2018 Elion Partners

Elion Adds Complementary Service Amenity, Breaking Ground on First Responders Station

On October 11th, Elion Partners (“Elion”) broke ground on the 10,000 square foot First Responders Station at RidgePort Logistics Center (“RidgePort”). The station complements the onsite amenities and additional planned commercial services for the park providing 24-hour fire and police, staffed by the City of Wilmington. Located next to RidgePort’s TA Petro Travel Plaza, the project is slated for completion in Q4 2019.

The idea behind RidgePort is to integrate wellness amenities that benefit the workforce and truckers in this highly trafficked area.

“By offering 24-hour onsite police and fire we can establish and maintain RidgePort as a safe place for our tenants, the workforce and truckers,” said Shlomo Khoudari, Managing Partner and Co-Founder of Elion.

Throughout the project’s phased construction, RidgePort will be delivering a final amenities package focused on opportunities for convenience as well as opportunities for employees to restore, nourish, learn and move. 60 acres have been designated for retail development and are planned to include restaurants, healthcare services, a fitness center, and a hotel. An additional 120 acres have been reserved for retail development in future phases. Additional planned park amenities include pedestrian paths and outdoor seating and a bike share program.

Today, RidgePort’s TA Petro Travel Plaza services the 6.2 million square feet of tenants currently on site offering a dine-in and fast food restaurants, business services, laundry, showers, 229 parking stalls, a truck wash, and truck maintenance services.

RidgePort is the third single-asset permanent capital vehicle in the Adar investment series. The initial land acquisition included 1,029 acres with a gross leasable area (“GLA”) of 11.4 million square feet and was sourced off-market. Today, RidgePort’s planned GLA exceeds 30 million square feet, through additional land acquisitions, with 6.2 million square feet built and the ability to accommodate tenants up to 2 million square feet. Strategically located 40 miles southwest of Chicago, RidgePort benefits from major transportation channels including Class 1 rails such as the BNSF, and interstates 80 and 55, and offers tenants the opportunity for direct rail service. The park is currently home to tenants such as Michelin, Post Consumer Brands, Lineage Logistics, Batory Foods and General Mills.