Tejon Ranch, Rockefeller partnership begins warehouse development
A partnership between Tejon Ranch Co. and Rockefeller Group Development Corp. announced Tuesday the start of development on a 606,000-square-foot warehouse north of Southern California.
The new facility is part of the 1,450-acre Tejon Industrial Complex located about 60 miles north of downtown Los Angeles.
The Lebec-based Tejon Ranch and New York City-based Rockefeller Group’s joint venture partnership includes securing a foreign trade zone designation at the complex as an expansion of the Port of Los Angeles FTZ No. 202, with a goal of developing the property within the FTZ for warehouse and distribution uses.
Once completed, the facility, which will be built adjacent to IKEA’s western regional distribution facility, will be made available for lease. The partnership plans to attract companies that need to move goods from California’s ports to a centralized location for staging prior to statewide or western regional distribution.
FTZs allow manufacturers and distributors to defer duty payment on imported items or raw materials that are stored an FTZs until such goods are removed from the facility. Qualified FTZ companies may also receive permission from the government to move imported items directly from the ports to the FTZ, thereby avoiding delays at congested ports.