A new owner has been announced for the struggling Ridgmar Mall in Fort Worth. Ramrock Real Estate, a private equity firm based in Dallas, has acquired the mall with plans to redevelop it into a logistics center. The redevelopment, known as Ridgmar 30 Logistics Crossing, will consist of six buildings totaling approximately 931,000 square feet.

The mall's sale comes as one of its last major retailers, JCPenney, prepares to close its store later this year. Other businesses, including a Dillard's outlet and a movie theater, are still operating at the site. Further details on the project and its impact on existing businesses can be found through the source.

Ramrock Real Estate is partnering with other companies on the redevelopment.