|
|
3/19/08
|
The future looks even brighter for new development in SoCal’s Tejon Ranch area, as the U.S. Department of Commerce has officially included 177 acres at Tejon Industrial Complex, a 1,450-acre master-planned commercial development in the region, as part of a Foreign Trade Zone.
“The master plan for Tejon Industrial Complex is strategically crafted to provide a premier operating environment for California’s diverse business community,” said Robert A. Stine, President and CEO of Tejon Ranch Co. “The Foreign Trade Zone designation at TIC will offer a signature advantage to our joint venture with The Rockefeller Group as we continue attracting new employers to Kern County.”
Currently, the joint venture of Tejon Ranch Company (NYSE: TRC) and Rockefeller Group Development Corporation (The Rockefeller Group) is moving forward with up to 500 acres of phased commercial development at TIC to serve the needs of the global logistics and warehouse sectors, the most common users of an FTZ. The FTZ designation, once activated by the end user, will allow these manufacturers and distributors to secure the many benefits and cost reductions associated with streamlined movement of goods in and out of the zone and import duty and related savings.
Construction is now complete at the partnership’s first project, a 606k sf warehouse facility designed for single- or multi-tenant use. The building is ready for occupancy and will serve the needs of California’s warehouse and distribution center operators searching for large blocks of move-in ready warehouse space featuring expansive truck courts, modern infrastructure and excellent access to a regional transportation system. Irvine-based architectural firm HPA designed the new building, with Fullmer as general contractor.
Prior to the expansion of the general-purpose FTZ to include designated acreage at TIC, home furnishings leader IKEA had obtained approval and activated TIC’s first subzone at its 1.7 msf distribution facility. This activation is considered to be one of the largest subzones approved and utilized in the state of California.
According to the Colliers International brokerage team of Senior Vice Presidents Thomas Taylor and John DeGrinis, retained by the joint venture to market available building space and land for development at TIC, the FTZ designation provides a sought after amenity for the project that serves the industrial space user and further strengthens TIC’s already unique position in the marketplace.
“For companies involved in logistics and warehouse operations, access to an FTZ designation is a huge attraction they will not find at other regional projects,” said DeGrinis. “This designation, bundled with TIC’s available land for new buildings ranging in size from 100k sf to 1.5 msf and beyond, make it a strategic location option for new construction in today’s marketplace.”
Tejon Industrial Complex is already home to 3.1 msf of existing warehouse facilities (including the new building) and approximately 1,000 employees, including IKEA's Western North American Distribution Center, Oneida Ltd’s West Coast Distribution Center and more than 60 acres of retail offerings, including: a Petro Travel Plaza, a Best Western Hotel, In-N-Out Burger, a free-standing Starbucks, Panda Express, McDonald’s, Wendy’s and Iron Skillet Restaurant.
“TIC is fast becoming a critical solution to the challenges facing the modern logistics operation,” said Barry Hibbard, vice president of commercial and industrial development with Tejon Ranch. “Major retailers are focused on finding an efficient logistics, labor and location solution. TIC provides inbound and outbound efficiencies for goods movement from a master-planned location. The labor base of Kern County and the Bakersfield Region is deep and highly qualified to serve the needs of industrial space users.”
The TIC site is located between the Ports of Los Angeles and Oakland at the junction of Interstate Five and Highway 99, putting warehouse operators approximately 90 minutes north of the Los Angeles Ports and four hours south of Oakland, providing efficient access to the state’s two major port complexes for diversification and contingency. The site allows for efficient outbound, roundtrip delivery service to 96 percent of California’s population and parts of Nevada within the current Federal driver hours of service limitations.
|
|
 Return to the Archive page
|
|
|
|
|
Printer-friendly Version
Email an Associate
