Majestic Realty, Tejon Ranch Score 240 KSF California Lease
RectorSeal will relocate from its Los Angeles-area distribution center.
RectorSeal LLC has signed a 240,000-square-foot lease at a 480,000-square-foot industrial facility in Lebec, Calif., halfway between Bakersfield, Calif., and Los Angeles. JLL brokered the transaction on behalf of the owner—a partnership between Tejon Ranch Co. and Majestic Realty Co.—while the tenant was represented by a Voit Real Estate Services team.
The JLL brokers for the transaction included Executive Managing Directors Mike McCrary and Mac Hewett, Managing Director Brent Weirick and International Director Peter McWilliams. The Voit Real Estate Services team that represented the tenant comprised Executive Vice President Walt Chenoweth and Senior Vice President Sean Sullivan.
The 2017-completed building is part of Tejon Ranch Commercial Center, a 1,450-acre master-planned campus. RectorSeal, a manufacturer of HVAC/R and plumbing products, will relocate its distribution center from the Los Angeles area.
Other tenants include L’Oréal, which signed a 240,000-square-foot lease in 2018, IKEA, Camping World and Caterpillar Inc. Earlier this year, Sunrise Brands signed a 446,000-square-foot lease at an upcoming distribution facility, occupying the whole building. That property is slated for completion in the first quarter of 2024.
A diverse master-planned development
Tejon Ranch Commercial Center will measure some 20 million square feet of commercial and industrial space upon delivery. Currently, there are more than 11 million square feet of space available, with another 3 million in the development pipeline. Roughly 500,000 square feet are under construction. Available sites vary between 20,000 and 2 million square feet.
Plans also call for a mixed-use development, dubbed Grapevine at Tejon Ranch, that is set to include 12,000 homes and 5.1 million square feet of commercial, industrial and civic uses. A 495-unit community is already underway.
Located at the intersection of Interstate 5 and Highway 99, the development site is 85 miles from downtown Los Angeles. The port of Los Angeles and Long Island are some 120 miles away.