Another Industrial Tenant Signs at Tejon Ranch in Southern California
Manufacturer and distributor takes 240,000 square feet
Another industrial tenant is moving its operations to part of the Tejon Ranch Commerce Center (TRCC) on the biggest piece of private land in California.
The joint venture of Tejon Ranch Company and Majestic Realty Company announced Tuesday that CSW Industrials’ RectorSeal, which manufactures heating, ventilation, air conditioning, refrigeration and plumbing products, is moving from Los Angeles into half of a 480,000-square-foot facility at the expansive master-planned development in southwestern Kern County. The asking rent and lease rate were not disclosed.
The developer said it has secured more than 2.5 million square feet of industrial leases at TRCC over the past 24 months. The 1,450-acre development is at the junction of Interstate 5 and Highway 99, about an hour north of the L.A. basin. It’s also home to distribution centers for tenants that include Ikea, Camping World, Caterpillar, Dollar General, Famous Footwear and L’Oréal.
Last month, Tejon Ranch Company announced it closed a $160 million unsecured revolving credit facility with AgWest Farm Credit to fund construction projects, farming and ranching operations, and pay for general corporate expenses.
JLL (JLL)’s Mike McCrary, Mac Hewett, Brent Weirick and Peter McWilliams manage the TRCC listing and represented the landlords on the RectorSeal transaction. Walt Chenoweth and Sean Sullivan with Voit Real Estate Services represented RectorSeal.
Gregory Cornfield can be reached at firstname.lastname@example.org.