Dedeaux Properties has closed on the acquisition of a 12-acre land parcel entitled for up to 250,000 square feet of industrial development within the Tejon Ranch Commerce Center (TRCC) in Kern County’s Tejon Ranch, approximately 75 miles north of Downtown Los Angeles.
One of the most active developers of logistics-oriented facilities in Southern California, Dedeaux has submitted plans for a state-of-the-art speculative dry bulk warehouse/distribution facility with 32’ clear height and excess trailer parking. Once plans have been approved, Dedeaux expects construction to be completed in nine-to-twelve months.
Dedeaux currently manages a portfolio of more than six million square feet of warehouse, trucking and logistics properties, located in Los Angeles, the Inland Empire, Santa Clarita, and the San Francisco Bay Area. Tejon Ranch provides another foothold in an important regional submarket as the firm continues to broaden its scope of warehouse and distribution solutions for retailers and logistics firms providing goods throughout California.
“The Greater Los Angeles market is increasingly becoming supply constrained putting upward pressure on rents, which in turn places greater pressure on supply chain costs,” said Dedeaux Properties Rishi Thakkar, who led efforts on this acquisition. “Tejon Ranch, which is strategically located in the southern portion of California’s Central Valley, is a location that's proven to represent a superior value proposition for regional users who need to move goods throughout the Western United States.”
The Tejon Ranch Commerce Center is a 20 million-square-foot master planned development on Interstate 5, just north of the Los Angeles basin. Nearly six million square feet of industrial, commercial and retail space has already been developed, including distribution centers for IKEA, Caterpillar, Famous Footwear, L’Oreal and Dollar General.
“Dedeaux’s planned development further solidifies the attractiveness of the Tejon Ranch Commerce Center,” said Joseph N. Rentfro, Tejon Ranch Co.’s Executive Vice President of Real Estate. “TRCC offers companies both a strategic location and significant logistics-based amenities, including ample fuel, parking, and food options for their employees. Its location at the junction of I-5 and Highway 99 gives immediate access to the interstate, proximity to the Ports of Los Angeles and Long Beach, and provides a strategic base where companies can efficiently serve all of California and the adjacent western states.”