New Industrial Facility Announcement#
Tejon Ranch Co. and Dedeaux Properties have revealed plans to start construction on a substantial 510,385-square-foot industrial facility at the Tejon Ranch Commerce Center in Lebec, California. This project is expected to break ground soon and aims for completion by early 2027.
Facility Features#
The new building will occupy a 24.57-acre site and is classified as a Class A facility, indicating it meets high standards for quality and design. Key features include: - A clear height of 36 feet, allowing for taller storage and operations. - 100 dock-high doors for efficient loading and unloading of goods. - 185-foot cross-dock truck courts, facilitating smooth transportation logistics. - 4,000 square feet of office space, suitable for administrative functions.
This facility is designed to accommodate either single or multiple tenants, making it versatile for various businesses.
Location and Current Development#
The Tejon Ranch Commerce Center is strategically located about 75 miles north of Los Angeles, with easy access to major highways like Interstate 5. This area is part of a larger 20-million-square-foot planned development that includes a Foreign Trade Zone, which can provide tax advantages for businesses engaged in international trade.
Currently, the center has seven million square feet of industrial space that is fully leased to notable companies such as IKEA, Nestlé USA, and L’Oréal, supporting around 5,000 jobs in the region.
Market Context and Company Performance#
Matt Walker, President and CEO of Tejon Ranch Co., noted that the demand for industrial space in Southern California is rising while supply remains limited. This has positively influenced investor sentiment, with the company’s stock trading at $19.79, reflecting a 26% increase over the past six months. Tejon Ranch recently reported revenues of $49.6 million, showing an 18% growth year-over-year.
This new project marks Dedeaux Properties' second venture in the commerce center, following a successful sale of a 233,000-square-foot facility in 2024. JLL will handle leasing, while Fullmer Construction will manage the construction process.