NorthCape International Leases 89,086 Square Feet of Space at Bedford Park Corporate Center

Business Wire,  Nov 26, 2007  

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Ridge Property Trust Signs Second Lease in 60 Days to Fully Occupy 272,000 Square Foot Infill Development

CHICAGO -- Ridge Property Trust, a Chicago-based REIT specializing in industrial property development and management, today announced that it has signed NorthCape International to an 89,086 square foot lease at the company's Bedford Park Corporate Center in Bedford Park, IL. The new agreement brings Ridge's 272,000 square foot Corporate Center II building into a fully-occupied status, with the fast-growing REIT completing two major leasing deals for the facility within 60 days.

Ridge's Bedford Park Corporate Centers I, II, & III consist of three buildings totaling more than 1 million square feet of industrial, logistics and office space. The 50-acre infill development by Ridge has taken this older industrial area and turned it into a prime location with new construction for companies seeking state-of-the-art distribution facilities and warehouse operations. The Bedford Park Corporate Center features 32-foot clear ceiling heights, pre-cast concrete construction and environmentally-friendly designs.

NorthCape International joins FedEx Home Delivery and Toyota Tsusho America as top corporations that have chosen Ridge facilities in Bedford Park for regional operations. Both NorthCape and FedEx Home Delivery have signed leases within the last two months.

NorthCape International is a fast-growing outdoor furniture company with operations in New Jersey, Florida and Illinois. The company has occupied a facility in Bedford Park for many years, but with ongoing growth and expansion of operations, NorthCape required a larger location centrally positioned near major transportation routes that provided easy access to the company's existing employees.

"As a wholesale furniture distributor we are focused on our delivery system and providing a high quality furniture value to our customers," said Erin Walsh, Vice President, NorthCape International. "Ridge has provided the resources that we need to expand: our new state-of-the-art warehouse with 22 docks, key to our domestic delivery system; space to build out offices to meet our growing needs; and a competitive lease that allows us to manage our overhead and continue to provide the best value in our products."

"NorthCape is a prime example of a company that is seeking to find smart and competitive solutions to support their ongoing growth, and with their selection of Bedford Park Corporate Center II they have found a strong way to expand efficiently into a larger, state-of-the art facility without displacing their current employees," said Doug Hayes, Vice President of Ridge Property Trust. "Interest is growing in our Bedford Park Corporate Center - as evidenced by the deals in the last 60 days that have fully occupied one of the three corporate centers - and we are continuing to reach out to businesses that can take advantage of Bedford Park Corporate Center's transportation and Class 6B tax advantages."

"Ridge has continued to attract strong tenants to the Bedford Park Corporate Center who realize that the development, situated in a prime location, brings very strong advantages including the availability of a large group of experienced workers, direct rail access and superior financial arrangements," said Tony Ferrante, Senior Vice President, Heitman, who has partnered with Ridge Property Trust in the Bedford Park Corporate Center joint venture. "The availability of high-quality buildings, featuring green components in a very advantageous location certainly resonates with businesses seeking to expand their operations in the Chicagoland area."

Brokers Walter Murphy and Scott Anderson from Cushman & Wakefield represented NorthCape International, with Sally Macoicz and Roger Mroczek of Cushman & Wakefield representing Ridge Property Trust.

About Ridge Property Trust

Ridge Property Trust (Ridge), a privately-held real estate investment trust (REIT) with ongoing industrial development in the United States and Mexico, is a leading provider of commercial real estate development services. Combining immediate access to key local decision makers with a highly responsive and streamlined organization, Ridge provides a competitive advantage that makes acquisition and development cost-efficient, customized, and customer-focused. Backed by institutional investors advised by Prudential Real Estate Investors (PREI[R]), Ridge Property Trust delivers senior executives armed with exceptional local knowledge, worldwide institutional power, discipline, and access to capital - ensuring the best value for brokers, sellers and end users alike. Ridge Property Trust is based in Chicago and has regional offices throughout the United States. For more information, visit www.rptrust.com or call (773) 695-1250.

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