Tejon Ranch Company Announces Joint Venture with Dedeaux Properties
Tejon Ranch Company has embarked on an exciting new venture, announcing a collaboration with Dedeaux Properties to develop a state-of-the-art industrial warehouse at the Tejon Ranch Commerce Center. This partnership aims to create a facility spanning approximately 510,500 square feet, catering to the growing demand for logistics solutions.
The Tejon Ranch Commerce Center Advantage
Situated at a strategic location at the crossroads of Interstate 5 and Highway 99, the Tejon Ranch Commerce Center (TRCC) serves as a pivotal logistics hub for California and the western United States. This prime positioning is instrumental in driving economic growth in the region, particularly Kern County.
Current Developments and Future Prospects
Tejon Ranch Company has established itself as a leader in industrial development, having successfully completed 8.2 million square feet of industrial space at TRCC. Moreover, there are plans for an additional 11.1 million square feet of entitled property, ensuring the continued growth of this essential economic zone.
The center also boasts 674,000 square feet of commercial property, highlighted by the Outlets at Tejon, which recently celebrated a decade of operations with an impressive occupancy rate exceeding 90%. Looking ahead, Tejon Ranch Company is set to introduce its first residential project, the 228-unit first phase of Terra Vista at Tejon, slated to open in the spring.
New Industrial Warehouse Features
The forthcoming industrial warehouse will be strategically positioned on a 25-acre site just east of Interstate 5. This advantageous location ensures immediate access to one of California's primary transportation routes, allowing efficient service to 90% of California consumers within a single-day truck turnaround. The partners are designing this facility as a Class-A divisible cross-dock facility, featuring 185-foot truck courts and a 36-foot clear height, tailored to meet the demands of modern logistics.
Dedeaux Properties: A Valuable Partnership
Dedeaux Properties is no stranger to the Tejon Ranch Commerce Center, having previously completed a successful development earlier this year on land purchased from Tejon Ranch Company. This project involved the construction of a 250,000-square-foot warehouse building, which was sold upon completion to a national clothing and textile distributor.
Brett Dedeaux, Chief Executive & Manager of Dedeaux Properties, expressed enthusiasm about the ongoing collaboration, stating, "We have learned that both third-party logistics companies and major retailers find TRCC to be an efficient distribution hub for shipping goods throughout California and the West. This joint venture presents us with a fantastic opportunity to enhance the industrial landscape and meet the growing demand for high-quality industrial space."
Marketing and Leasing Strategy
To ensure the successful leasing of this new industrial facility, JLL’s team, including Mac Hewett, Mike McCrary, and Brent Weirick, will act as the listing agents. Their expertise will play a crucial role in targeting potential tenants who seek operational advantages in this highly sought-after location.
About Tejon Ranch Company
Tejon Ranch Company is a diversified real estate development and agribusiness firm, with its principal asset being a vast 270,000-acre landholding located just north of Los Angeles. Their commitment to sustainable growth and development is evident in their ongoing projects at TRCC and beyond.
Learn More About Dedeaux Properties
Los Angeles-based Dedeaux Properties specializes in developing logistics-oriented real estate and is associated with the family-operated DART Warehouse Corporation. With a portfolio encompassing 13.5 million square feet of industrial space and an active pipeline of over two million square feet in development, Dedeaux Properties is well-positioned in the logistics sector.
Frequently Asked Questions
What is the purpose of the joint venture between Tejon Ranch and Dedeaux Properties?
The joint venture aims to develop a new state-of-the-art industrial warehouse to meet the growing demand for logistics solutions in California.
Where is the Tejon Ranch Commerce Center located?
The Tejon Ranch Commerce Center is located at the intersection of Interstate 5 and Highway 99, serving as a vital logistics hub for the region.
How large will the new warehouse be?
The new warehouse will cover approximately 510,500 square feet, designed to accommodate modern logistics requirements.
What advantages does the Tejon Ranch Commerce Center offer?
TRCC's strategic location allows for efficient distribution, with access to major transportation routes that enable service to a large consumer base within a single day.
Who will market the new industrial facility?
JLL’s team, including Mac Hewett, Mike McCrary, and Brent Weirick, will serve as the listing agents and manage the marketing strategy for the facility.
