Tejon Ranch Co./Majestic Realty Co. Joint Enterprise setting up its 3rd new developing, a 630,000-square-foot Course-A industrial facility
TEJON RANCH, Calif., July 07, 2021 (Globe NEWSWIRE) — Tejon Ranch Co. (NYSE: TRC) introduced these days it has commenced building of an approximate 630,000-square-foot speculative industrial creating at the Tejon Ranch Commerce Center (TRCC) with its joint enterprise lover Majestic Realty Co., the nation’s premier privately-held industrial developer.
The new making is located on a +/-39-acre web page fronting Interstate 5, straight away to the north of two other industrial services designed by Tejon-Majestic joint ventures in 2017 and 2019. At 629,274 square ft, the new building is the major of the three, the other two staying 480,480 and 579,040 sq. toes respectively. Tejon and Majestic also personal a entirely leased 651,909 industrial constructing on the west side of TRCC.
“Given the historical accomplishment we have enjoyed with our earlier speculative creating developments, with each and every of them leasing up in speedy vogue, the deficiency of vacant space inside Tejon Ranch Commerce Center, and the degree of need inquiries we’re fielding for gentle manufacturing, warehouse and distribution place out of Southern California and elsewhere, we needed to move as swiftly as probable to carry one more new setting up on the internet,” stated Joseph N. Rentfro, Tejon Ranch Co.’s Executive Vice President of Actual Estate. “Whoever occupies the room will obtain our adjacency to Interstate 5 and proximity to both equally the Port of Los Angeles-Prolonged Beach as well as