Majestic expands investment at Tejon Ranch with 4th joint venture partnership in past 5 years

SAN FERNANDO, Calif. - June 30, 2021 - PRLog -- TEJON RANCH, CA – With groundbreaking of its third new building and its fourth joint-venture partnership agreement with Tejon Ranch Co. over the past five years set for this week, Majestic Realty Co., the nation's largest privately-held developer, continues its bullish view of the massive, state-of-the-art Tejon Ranch Commerce Center (TRCC) development located at the junction of Interstate 5 and Highway 99 just an hour north of the San Fernando Valley/L.A. basin.

The 629,274-square-foot Class A speculative industrial building, designed for single- or multi-tenant use, is being constructed on a little less than 39 acres fronting Interstate 5 and giving distributors immediate access to the west coast's principal north-south goods movement corridor, and an easy connection to both I-15 and I-40 east-west corridors via State Highway 58. Scheduled for occupancy by mid-2022, the building will deliver 36-foot clear height, a minimum 7-inch floor slab, 136 dock-high doors, 185-foot cross-dock truck courts and ESFR sprinkler system. JLL Managing Director Mike McCrary represents the developers.

"Beginning with our initial partnership agreement in 2016, we've remained incredibly bullish about Tejon Ranch and we're excited to be breaking ground on our third new building with a partner that sees and is committed to implementing a development vision through the same long-term lens," said Majestic Realty Co. Vice President Tom Simmons.

Thanks to a wide range of factors beginning with location, Class-A product and proactive economic incentives in Kern County, TRCC provides a significantly lower cost option to properties in the L.A. basin where uncertainty surrounding newer air emissions regulations, as well as higher living, labor and rental costs for tenants magnify the challenges for companies of all sizes.

In addition, multi-national companies continue to demonstrate interest in "safety stock" for product in North America to help mitigate consequences experienced when the supply chain demonstrated its vulnerability due to the pandemic. Tejon Ranch Commerce Center has already proven its ability to attract world-class tenants that can serve approximately 40 million consumers with one-day service, and up to 70 million in two days.

For more information visit: https://tejoncommerce.com/