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ilks Development has expanded its commercial portfolio with the acquisition of One Ridgmar Centre, a 177,200-square-foot office property in west Fort Worth. The company purchased the tower from Holt Lunsford Commercial for an undisclosed price, although the Tarrant Appraisal District valued it at $18 million this year. Built in 1986, the building is the tallest structure in its area and offers easy access to those driving into the city from the west.

    Under new ownership, One Ridgmar Centre has seen a significant increase in occupancy, rising from 68% to 85%. This is largely due to over 30,000 square feet of new leases, including one with Fort Worth-based equipment lender Equify Financial. Wilks Development plans to invest $9 million in renovations over the next five years, starting with improvements to the HVAC system and common areas.

    The company's acquisition of One Ridgmar Centre is part of its broader expansion efforts across Texas, Oklahoma, and Pennsylvania, where it manages over 1.6 million square feet of commercial real estate. Wilks Development is also working on several other projects, including the restoration of the Fort Worth Public Market and a massive mixed-use development in Frisco called Firefly Park.