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9/23/2021
The River Ridge Development Authority (RRDA) and Mid-America Rail Storage and Leasing have reached an agreement that will end Mid-America’s lease of rail assets at River Ridge Commerce Center in Jeffersonville, Indiana.
The agreement resolves a lawsuit Mid-America filed in July related to the appraisal of the rail assets at River Ridge and allows for an early termination of Mid-America’s lease. The lease was due to end in 2027 but will instead cease by Oct. 31.
The agreement with Mid-America also allows River Ridge to expedite a new partnership agreement with OmniTRAX.
OmniTRAX, which will become River Ridge's new rail partner, will begin operating at River Ridge next month. The company will further develop the rail infrastructure at the commerce center, according to an OmniTRAX press release.
With about 4,000 acres of River Ridge still available for development, River Ridge can accommodate projects ranging from 1 acre to 1,400 acres in its dedicated megasite.
"The park's strategic location offers tremendous manufacturing and distribution opportunities, and our unique blend of rail and real estate expertise will play a major role in the park's long-term development," said OmniTRAX Chief Executive Officer Dean Piacente.