Tejon Ranch Co. announced Monday it will partner with a Southern California developer builder to develop a 510,385-square-foot industrial building at the Tejon Ranch Commerce Center north of the Grapevine.
The project, which does not yet have a designated tenant, marks a return to speculative industrial construction in the southern San Joaquin Valley after concerns last year about a market slowdown.
Inside the plans: The building, which will offer single- or multi-tenant options, will be constructed on a 24.57-acre site. Planned features include 36-foot clear heights, 100 dock-high doors and 4,000 square feet of office space. Completion is expected in early 2025.
- Tejon Ranch and Santa Monica-based Dedeaux Properties previously teamed up on a 233,000-square-foot project at the commerce center.
- The new venture comes at a time when demand for industrial space remains high and available land in the Inland Empire has become increasingly scarce.
- The Tejon Ranch Commerce Center measures 20 million square feet and currently houses distribution centers for companies including Camping World, Caterpillar, Dollar General, Famous Footwear, IKEA, L’Oréal and Nestlé USA, as well as a Plant Prefab housing manufacturing facility.
What they’re saying: “Our partnership with Dedeaux is built on shared conviction, which includes knowing when to move,” said Matt Walker, President and Chief Executive Officer of Tejon Ranch Co. “We’re building into a market where industrial supply across Southern California is limited, and leasing demand has been accelerating. Our new facility is well timed to meet the market.”
- “We believe in the future development potential of the measured build-out of the remaining 11 million square feet of industrial entitlements within Tejon Ranch Commerce Center,” said Dedeaux Properties Senior Director of Investments Rishi Thakkar. “The speed at which 100% of the existing space was leased or sold to high-caliber tenants underscores TRCC’s strong market positioning and the viability of this evolving industrial hub.”
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