RectorSeal will occupy the constructing within the following months. Picture courtesy of Tejon Ranch Co. and Majestic Realty Co.
RectorSeal LLC has signed a 240,000-square-foot lease at a 480,000-square-foot industrial facility in Lebec, Calif., midway between Bakersfield, Calif., and Los Angeles. JLL brokered the transaction on behalf of the proprietor—a partnership between Tejon Ranch Co. and Majestic Realty Co.—whereas the tenant was represented by a Voit Actual Property Providers group.
The JLL brokers for the transaction included Govt Managing Administrators Mike McCrary and Mac Hewett, Managing Director Brent Weirick and Worldwide Director Peter McWilliams. The Voit Actual Property Providers group that represented the tenant comprised Govt Vice President Walt Chenoweth and Senior Vice President Sean Sullivan.
The 2017-completed constructing is a part of Tejon Ranch Industrial Middle, a 1,450-acre master-planned campus. RectorSeal, a producer of HVAC/R and plumbing merchandise, will relocate its distribution heart from the Los Angeles space.
Different tenants embrace L’Oréal, which signed a 240,000-square-foot lease in 2018, IKEA, Tenting World and Caterpillar Inc. Earlier this yr, Dawn Manufacturers signed a 446,000-square-foot lease at an upcoming distribution facility, occupying the entire constructing. That property is slated for completion within the first quarter of 2024.
A various master-planned improvement
Tejon Ranch Industrial Middle will measure some 20 million sq. toes of economic and industrial house upon supply. At present, there are greater than 11 million sq. toes of house obtainable, with one other 3 million within the improvement pipeline. Roughly 500,000 sq. toes are underneath development. Obtainable websites range between 20,000 and a couple of million sq. toes.
Plans additionally name for a mixed-use improvement, dubbed Grapevine at Tejon Ranch, that’s set to incorporate 12,000 properties and 5.1 million sq. toes of economic, industrial and civic makes use of. A 495-unit neighborhood is already underway.
Situated on the intersection of Interstate 5 and Freeway 99, the event web site is 85 miles from downtown Los Angeles. The port of Los Angeles and Lengthy Island are some 120 miles away.
